Merge pull request '[EXEC-POLICY] TKT-P1-007 session_id 로그 원장 강제' (#298) from feature/issue-tkt-p1-007-session-id-ledger into feature/v3-session-policy-stream

Reviewed-on: #274

.env.example

@@ -1,36 +1,82 @@
+# ============================================================
+# The Ouroboros — Environment Configuration
+# ============================================================
+# Copy this file to .env and fill in your values.
+# Lines starting with # are comments.
+
+# ============================================================
 # Korea Investment Securities API
+# ============================================================
 KIS_APP_KEY=your_app_key_here
 KIS_APP_SECRET=your_app_secret_here
 KIS_ACCOUNT_NO=12345678-01
-KIS_BASE_URL=https://openapivts.koreainvestment.com:9443
 
+# Paper trading (VTS): https://openapivts.koreainvestment.com:29443
+# Live trading:        https://openapi.koreainvestment.com:9443
+KIS_BASE_URL=https://openapivts.koreainvestment.com:29443
+
+# ============================================================
+# Trading Mode
+# ============================================================
+# paper = 모의투자 (safe for testing), live = 실전투자 (real money)
+MODE=paper
+
+# daily = batch per session, realtime = per-stock continuous scan
+TRADE_MODE=daily
+
+# Comma-separated market codes: KR, US, JP, HK, CN, VN
+ENABLED_MARKETS=KR,US
+
+# Simulated USD cash for paper (VTS) overseas trading.
+# VTS overseas balance API often returns 0; this value is used as fallback.
+# Set to 0 to disable fallback (not used in live mode).
+PAPER_OVERSEAS_CASH=50000.0
+
+# ============================================================
 # Google Gemini
+# ============================================================
 GEMINI_API_KEY=your_gemini_api_key_here
-GEMINI_MODEL=gemini-pro
+# Recommended: gemini-2.0-flash-exp or gemini-1.5-pro
+GEMINI_MODEL=gemini-2.0-flash-exp
 
+# ============================================================
 # Risk Management
+# ============================================================
 CIRCUIT_BREAKER_PCT=-3.0
 FAT_FINGER_PCT=30.0
 CONFIDENCE_THRESHOLD=80
 
+# ============================================================
 # Database
+# ============================================================
 DB_PATH=data/trade_logs.db
 
-# Rate Limiting (requests per second for KIS API)
-# Reduced to 5.0 to avoid "초당 거래건수 초과" errors (EGW00201)
-RATE_LIMIT_RPS=5.0
+# ============================================================
+# Rate Limiting
+# ============================================================
+# KIS API real limit is ~2 RPS. Keep at 2.0 for maximum safety.
+# Increasing this risks EGW00201 "초당 거래건수 초과" errors.
+RATE_LIMIT_RPS=2.0
 
-# Trading Mode (paper / live)
-MODE=paper
-
-# External Data APIs (optional — for enhanced decision-making)
+# ============================================================
+# External Data APIs (optional)
+# ============================================================
 # NEWS_API_KEY=your_news_api_key_here
 # NEWS_API_PROVIDER=alphavantage
 # MARKET_DATA_API_KEY=your_market_data_key_here
 
+# ============================================================
 # Telegram Notifications (optional)
+# ============================================================
 # Get bot token from @BotFather on Telegram
 # Get chat ID from @userinfobot or your chat
 # TELEGRAM_BOT_TOKEN=1234567890:ABCdefGHIjklMNOpqrsTUVwxyz
 # TELEGRAM_CHAT_ID=123456789
 # TELEGRAM_ENABLED=true
+
+# ============================================================
+# Dashboard (optional)
+# ============================================================
+# DASHBOARD_ENABLED=false
+# DASHBOARD_HOST=127.0.0.1
+# DASHBOARD_PORT=8080

CLAUDE.md

@@ -15,6 +15,9 @@ pytest -v --cov=src
 
 # Run (paper trading)
 python -m src.main --mode=paper
+
+# Run with dashboard
+python -m src.main --mode=paper --dashboard
 ```
 
 ## Telegram Notifications (Optional)
@@ -43,6 +46,10 @@ Get real-time alerts for trades, circuit breakers, and system events via Telegra
 - ℹ️ Market open/close notifications
 - 📝 System startup/shutdown status
 
+### Interactive Commands
+
+With `TELEGRAM_COMMANDS_ENABLED=true` (default), the bot supports 9 bidirectional commands: `/help`, `/status`, `/positions`, `/report`, `/scenarios`, `/review`, `/dashboard`, `/stop`, `/resume`.
+
 **Fail-safe**: Notifications never crash the trading system. Missing credentials or API errors are logged but trading continues normally.
 
 ## Smart Volatility Scanner (Optional)
@@ -87,6 +94,7 @@ Smart Scanner runs in `TRADE_MODE=realtime` only. Daily mode uses static watchli
 - **[Testing](docs/testing.md)** — Test structure, coverage requirements, writing tests
 - **[Agent Policies](docs/agents.md)** — Prime directives, constraints, prohibited actions
 - **[Requirements Log](docs/requirements-log.md)** — User requirements and feedback tracking
+- **[Live Trading Checklist](docs/live-trading-checklist.md)** — 모의→실전 전환 체크리스트
 
 ## Core Principles
 
@@ -109,17 +117,23 @@ User requirements and feedback are tracked in [docs/requirements-log.md](docs/re
 ```
 src/
 ├── analysis/        # Technical analysis (RSI, volatility, smart scanner)
+├── backup/          # Disaster recovery (scheduler, cloud storage, health)
+├── brain/           # Gemini AI decision engine (prompt optimizer, context selector)
 ├── broker/          # KIS API client (domestic + overseas)
-├── brain/           # Gemini AI decision engine
+├── context/         # L1-L7 hierarchical memory system
 ├── core/            # Risk manager (READ-ONLY)
-├── evolution/       # Self-improvement optimizer
+├── dashboard/       # FastAPI read-only monitoring (8 API endpoints)
+├── data/            # External data integration (news, market data, calendar)
+├── evolution/       # Self-improvement (optimizer, daily review, scorecard)
+├── logging/         # Decision logger (audit trail)
 ├── markets/         # Market schedules and timezone handling
-├── notifications/   # Telegram real-time alerts
+├── notifications/   # Telegram alerts + bidirectional commands (9 commands)
+├── strategy/        # Pre-market planner, scenario engine, playbook store
 ├── db.py            # SQLite trade logging
 ├── main.py          # Trading loop orchestrator
 └── config.py        # Settings (from .env)
 
-tests/               # 343 tests across 14 files
+tests/               # 551 tests across 25 files
 docs/                # Extended documentation
 ```
 
@@ -131,6 +145,7 @@ ruff check src/ tests/           # Lint
 mypy src/ --strict               # Type check
 
 python -m src.main --mode=paper  # Paper trading
+python -m src.main --mode=paper --dashboard  # With dashboard
 python -m src.main --mode=live   # Live trading (⚠️ real money)
 
 # Gitea workflow (requires tea CLI)
@@ -156,7 +171,7 @@ Markets auto-detected based on timezone and enabled in `ENABLED_MARKETS` env var
 - `src/core/risk_manager.py` is **READ-ONLY** — changes require human approval
 - Circuit breaker at -3.0% P&L — may only be made **stricter**
 - Fat-finger protection: max 30% of cash per order — always enforced
-- Confidence < 80 → force HOLD — cannot be weakened
+- Confidence 임계값 (market_outlook별, 낮출 수 없음): BEARISH ≥ 90, NEUTRAL/기본 ≥ 80, BULLISH ≥ 75
 - All code changes → corresponding tests → coverage ≥ 80%
 
 ## Contributing

README.md

@@ -10,28 +10,41 @@ KIS(한국투자증권) API로 매매하고, Google Gemini로 판단하며, 자
 │  (매매 실행) │     │ (거래 루프)  │     │  (의사결정)  │
 └─────────────┘     └──────┬──────┘     └─────────────┘
                            │
-                    ┌──────┴──────┐
-                    │Risk Manager │
-                    │  (안전장치)  │
-                    └──────┬──────┘
-                           │
-                    ┌──────┴──────┐
-                    │  Evolution  │
-                    │ (전략 진화)  │
-                    └─────────────┘
+              ┌────────────┼────────────┐
+              │            │            │
+       ┌──────┴──────┐ ┌──┴───┐ ┌──────┴──────┐
+       │Risk Manager │ │  DB  │ │  Telegram   │
+       │  (안전장치)  │ │      │ │ (알림+명령)  │
+       └──────┬──────┘ └──────┘ └─────────────┘
+              │
+     ┌────────┼────────┐
+     │        │        │
+┌────┴────┐┌──┴──┐┌────┴─────┐
+│Strategy ││Ctx  ││Evolution │
+│(플레이북)││(메모리)││ (진화)   │
+└─────────┘└─────┘└──────────┘
 ```
 
+**v2 핵심**: "Plan Once, Execute Locally" — 장 시작 전 AI가 시나리오 플레이북을 1회 생성하고, 거래 시간에는 로컬 시나리오 매칭만 수행하여 API 비용과 지연 시간을 대폭 절감.
+
 ## 핵심 모듈
 
-| 모듈 | 파일 | 설명 |
+| 모듈 | 위치 | 설명 |
 |------|------|------|
-| 설정 | `src/config.py` | Pydantic 기반 환경변수 로딩 및 타입 검증 |
-| 브로커 | `src/broker/kis_api.py` | KIS API 비동기 래퍼 (토큰 갱신, 레이트 리미터, 해시키) |
-| 두뇌 | `src/brain/gemini_client.py` | Gemini 프롬프트 구성 및 JSON 응답 파싱 |
-| 방패 | `src/core/risk_manager.py` | 서킷 브레이커 + 팻 핑거 체크 |
-| 알림 | `src/notifications/telegram_client.py` | 텔레그램 실시간 거래 알림 (선택사항) |
-| 진화 | `src/evolution/optimizer.py` | 실패 패턴 분석 → 새 전략 생성 → 테스트 → PR |
-| DB | `src/db.py` | SQLite 거래 로그 기록 |
+| 설정 | `src/config.py` | Pydantic 기반 환경변수 로딩 및 타입 검증 (35+ 변수) |
+| 브로커 | `src/broker/` | KIS API 비동기 래퍼 (국내 + 해외 9개 시장) |
+| 두뇌 | `src/brain/` | Gemini 프롬프트 구성, JSON 파싱, 토큰 최적화 |
+| 방패 | `src/core/risk_manager.py` | 서킷 브레이커 + 팻 핑거 체크 (READ-ONLY) |
+| 전략 | `src/strategy/` | Pre-Market Planner, Scenario Engine, Playbook Store |
+| 컨텍스트 | `src/context/` | L1-L7 계층형 메모리 시스템 |
+| 분석 | `src/analysis/` | RSI, ATR, Smart Volatility Scanner |
+| 알림 | `src/notifications/` | 텔레그램 양방향 (알림 + 9개 명령어) |
+| 대시보드 | `src/dashboard/` | FastAPI 읽기 전용 모니터링 (8개 API) |
+| 진화 | `src/evolution/` | 전략 진화 + Daily Review + Scorecard |
+| 의사결정 로그 | `src/logging/` | 전체 거래 결정 감사 추적 |
+| 데이터 | `src/data/` | 뉴스, 시장 데이터, 경제 캘린더 연동 |
+| 백업 | `src/backup/` | 자동 백업, S3 클라우드, 무결성 검증 |
+| DB | `src/db.py` | SQLite 거래 로그 (5개 테이블) |
 
 ## 안전장치
 
@@ -42,6 +55,7 @@ KIS(한국투자증권) API로 매매하고, Google Gemini로 판단하며, 자
 | 신뢰도 임계값 | Gemini 신뢰도 80 미만이면 강제 HOLD |
 | 레이트 리미터 | Leaky Bucket 알고리즘으로 API 호출 제한 |
 | 토큰 자동 갱신 | 만료 1분 전 자동으로 Access Token 재발급 |
+| 손절 모니터링 | 플레이북 시나리오 기반 실시간 포지션 보호 |
 
 ## 빠른 시작
 
@@ -67,7 +81,11 @@ pytest -v --cov=src --cov-report=term-missing
 ### 4. 실행 (모의투자)
 
 ```bash
+# 기본 실행
 python -m src.main --mode=paper
+
+# 대시보드 활성화
+python -m src.main --mode=paper --dashboard
 ```
 
 ### 5. Docker 실행
@@ -76,7 +94,20 @@ python -m src.main --mode=paper
 docker compose up -d ouroboros
 ```
 
-## 텔레그램 알림 (선택사항)
+## 지원 시장
+
+| 국가 | 거래소 | 코드 |
+|------|--------|------|
+| 🇰🇷 한국 | KRX | KR |
+| 🇺🇸 미국 | NASDAQ, NYSE, AMEX | US_NASDAQ, US_NYSE, US_AMEX |
+| 🇯🇵 일본 | TSE | JP |
+| 🇭🇰 홍콩 | SEHK | HK |
+| 🇨🇳 중국 | 상하이, 선전 | CN_SHA, CN_SZA |
+| 🇻🇳 베트남 | 하노이, 호치민 | VN_HNX, VN_HSX |
+
+`ENABLED_MARKETS` 환경변수로 활성 시장 선택 (기본: `KR,US`).
+
+## 텔레그램 (선택사항)
 
 거래 실행, 서킷 브레이커 발동, 시스템 상태 등을 텔레그램으로 실시간 알림 받을 수 있습니다.
 
@@ -102,25 +133,51 @@ docker compose up -d ouroboros
 - ℹ️ 장 시작/종료 알림
 - 📝 시스템 시작/종료 상태
 
-**안전장치**: 알림 실패해도 거래는 계속 진행됩니다. 텔레그램 API 오류나 설정 누락이 있어도 거래 시스템은 정상 작동합니다.
+### 양방향 명령어
+
+`TELEGRAM_COMMANDS_ENABLED=true` (기본값) 설정 시 9개 대화형 명령어 지원:
+
+| 명령어 | 설명 |
+|--------|------|
+| `/help` | 사용 가능한 명령어 목록 |
+| `/status` | 거래 상태 (모드, 시장, P&L) |
+| `/positions` | 계좌 요약 (잔고, 현금, P&L) |
+| `/report` | 일일 요약 (거래 수, P&L, 승률) |
+| `/scenarios` | 오늘의 플레이북 시나리오 |
+| `/review` | 최근 스코어카드 (L6_DAILY) |
+| `/dashboard` | 대시보드 URL 표시 |
+| `/stop` | 거래 일시 정지 |
+| `/resume` | 거래 재개 |
+
+**안전장치**: 알림 실패해도 거래는 계속 진행됩니다.
 
 ## 테스트
 
-35개 테스트가 TDD 방식으로 구현 전에 먼저 작성되었습니다.
+551개 테스트가 25개 파일에 걸쳐 구현되어 있습니다. 최소 커버리지 80%.
 
 ```
-tests/test_risk.py   — 서킷 브레이커, 팻 핑거, 통합 검증 (11개)
-tests/test_broker.py — 토큰 관리, 타임아웃, HTTP 에러, 해시키 (6개)
-tests/test_brain.py  — JSON 파싱, 신뢰도 임계값, 비정상 응답 처리 (15개)
+tests/test_scenario_engine.py    — 시나리오 매칭 (44개)
+tests/test_data_integration.py   — 외부 데이터 연동 (38개)
+tests/test_pre_market_planner.py — 플레이북 생성 (37개)
+tests/test_main.py               — 거래 루프 통합 (37개)
+tests/test_token_efficiency.py   — 토큰 최적화 (34개)
+tests/test_strategy_models.py    — 전략 모델 검증 (33개)
+tests/test_telegram_commands.py  — 텔레그램 명령어 (31개)
+tests/test_latency_control.py    — 지연시간 제어 (30개)
+tests/test_telegram.py           — 텔레그램 알림 (25개)
+... 외 16개 파일
 ```
 
+**상세**: [docs/testing.md](docs/testing.md)
+
 ## 기술 스택
 
 - **언어**: Python 3.11+ (asyncio 기반)
-- **브로커**: KIS Open API (REST)
+- **브로커**: KIS Open API (REST, 국내+해외)
 - **AI**: Google Gemini Pro
-- **DB**: SQLite
-- **검증**: pytest + coverage
+- **DB**: SQLite (5개 테이블: trades, contexts, decision_logs, playbooks, context_metadata)
+- **대시보드**: FastAPI + uvicorn
+- **검증**: pytest + coverage (551 tests)
 - **CI/CD**: GitHub Actions
 - **배포**: Docker + Docker Compose
 
@@ -128,27 +185,50 @@ tests/test_brain.py  — JSON 파싱, 신뢰도 임계값, 비정상 응답 처
 
 ```
 The-Ouroboros/
-├── .github/workflows/ci.yml     # CI 파이프라인
 ├── docs/
-│   ├── agents.md                # AI 에이전트 페르소나 정의
-│   └── skills.md                # 사용 가능한 도구 목록
+│   ├── architecture.md          # 시스템 아키텍처
+│   ├── testing.md               # 테스트 가이드
+│   ├── commands.md              # 명령어 레퍼런스
+│   ├── context-tree.md          # L1-L7 메모리 시스템
+│   ├── workflow.md              # Git 워크플로우
+│   ├── agents.md                # 에이전트 정책
+│   ├── skills.md                # 도구 목록
+│   ├── disaster_recovery.md     # 백업/복구
+│   └── requirements-log.md      # 요구사항 기록
 ├── src/
-│   ├── config.py                      # Pydantic 설정
-│   ├── logging_config.py              # JSON 구조화 로깅
-│   ├── db.py                          # SQLite 거래 기록
-│   ├── main.py                        # 비동기 거래 루프
-│   ├── broker/kis_api.py              # KIS API 클라이언트
-│   ├── brain/gemini_client.py         # Gemini 의사결정 엔진
-│   ├── core/risk_manager.py           # 리스크 관리
-│   ├── notifications/telegram_client.py # 텔레그램 알림
-│   ├── evolution/optimizer.py         # 전략 진화 엔진
-│   └── strategies/base.py             # 전략 베이스 클래스
-├── tests/                       # TDD 테스트 스위트
+│   ├── analysis/                # 기술적 분석 (RSI, ATR, Smart Scanner)
+│   ├── backup/                  # 백업 (스케줄러, S3, 무결성 검증)
+│   ├── brain/                   # Gemini 의사결정 (프롬프트 최적화, 컨텍스트 선택)
+│   ├── broker/                  # KIS API (국내 + 해외)
+│   ├── context/                 # L1-L7 계층 메모리
+│   ├── core/                    # 리스크 관리 (READ-ONLY)
+│   ├── dashboard/               # FastAPI 모니터링 대시보드
+│   ├── data/                    # 외부 데이터 연동
+│   ├── evolution/               # 전략 진화 + Daily Review
+│   ├── logging/                 # 의사결정 감사 추적
+│   ├── markets/                 # 시장 스케줄 + 타임존
+│   ├── notifications/           # 텔레그램 알림 + 명령어
+│   ├── strategy/                # 플레이북 (Planner, Scenario Engine)
+│   ├── config.py                # Pydantic 설정
+│   ├── db.py                    # SQLite 데이터베이스
+│   └── main.py                  # 비동기 거래 루프
+├── tests/                       # 551개 테스트 (25개 파일)
 ├── Dockerfile                   # 멀티스테이지 빌드
 ├── docker-compose.yml           # 서비스 오케스트레이션
 └── pyproject.toml               # 의존성 및 도구 설정
 ```
 
+## 문서
+
+- **[아키텍처](docs/architecture.md)** — 시스템 설계, 컴포넌트, 데이터 흐름
+- **[테스트](docs/testing.md)** — 테스트 구조, 커버리지, 작성 가이드
+- **[명령어](docs/commands.md)** — CLI, Dashboard, Telegram 명령어
+- **[컨텍스트 트리](docs/context-tree.md)** — L1-L7 계층 메모리
+- **[워크플로우](docs/workflow.md)** — Git 워크플로우 정책
+- **[에이전트 정책](docs/agents.md)** — 안전 제약, 금지 행위
+- **[백업/복구](docs/disaster_recovery.md)** — 재해 복구 절차
+- **[요구사항](docs/requirements-log.md)** — 사용자 요구사항 추적
+
 ## 라이선스
 
 이 프로젝트의 라이선스는 [LICENSE](LICENSE) 파일을 참조하세요.

docs/architecture.md

@@ -2,7 +2,9 @@
 
 ## Overview
 
-Self-evolving AI trading agent for global stock markets via KIS (Korea Investment & Securities) API. The main loop in `src/main.py` orchestrates four components across multiple markets with two trading modes: daily (batch API calls) or realtime (per-stock decisions).
+Self-evolving AI trading agent for global stock markets via KIS (Korea Investment & Securities) API. The main loop in `src/main.py` orchestrates components across multiple markets with two trading modes: daily (batch API calls) or realtime (per-stock decisions).
+
+**v2 Proactive Playbook Architecture**: The system uses a "plan once, execute locally" approach. Pre-market, the AI generates a playbook of scenarios (one Gemini API call per market per day). During trading hours, a local scenario engine matches live market data against these pre-computed scenarios — no additional AI calls needed. This dramatically reduces API costs and latency.
 
 ## Trading Modes
 
@@ -46,9 +48,11 @@ High-frequency trading with individual stock analysis:
 **KISBroker** (`kis_api.py`) — Async KIS API client for domestic Korean market
 
 - Automatic OAuth token refresh (valid for 24 hours)
-- Leaky-bucket rate limiter (10 requests per second)
+- Leaky-bucket rate limiter (configurable RPS, default 2.0)
 - POST body hash-key signing for order authentication
 - Custom SSL context with disabled hostname verification for VTS (virtual trading) endpoint due to known certificate mismatch
+- `fetch_market_rankings()` — Fetch volume surge rankings from KIS API
+- `get_daily_prices()` — Fetch OHLCV history for technical analysis
 
 **OverseasBroker** (`overseas.py`) — KIS overseas stock API wrapper
 
@@ -63,10 +67,11 @@ High-frequency trading with individual stock analysis:
 - `is_market_open()` checks weekends, trading hours, lunch breaks
 - `get_open_markets()` returns currently active markets
 - `get_next_market_open()` finds next market to open and when
+- 10 global markets defined (KR, US_NASDAQ, US_NYSE, US_AMEX, JP, HK, CN_SHA, CN_SZA, VN_HNX, VN_HSX)
 
-**New API Methods** (added in v0.9.0):
-- `fetch_market_rankings()` — Fetch volume surge rankings from KIS API
-- `get_daily_prices()` — Fetch OHLCV history for technical analysis
+**Overseas Ranking API Methods** (added in v0.10.x):
+- `fetch_overseas_rankings()` — Fetch overseas ranking universe (fluctuation / volume)
+- Ranking endpoint paths and TR_IDs are configurable via environment variables
 
 ### 2. Analysis (`src/analysis/`)
 
@@ -81,24 +86,28 @@ High-frequency trading with individual stock analysis:
 
 **SmartVolatilityScanner** (`smart_scanner.py`) — Python-first filtering pipeline
 
-- **Step 1**: Fetch volume rankings from KIS API (top 30 stocks)
-- **Step 2**: Calculate RSI and volume ratio for each stock
-- **Step 3**: Apply filters:
-  - Volume ratio >= `VOL_MULTIPLIER` (default 2.0x previous day)
-  - RSI < `RSI_OVERSOLD_THRESHOLD` (30) OR RSI > `RSI_MOMENTUM_THRESHOLD` (70)
-- **Step 4**: Score candidates by RSI extremity (60%) + volume surge (40%)
-- **Step 5**: Return top N candidates (default 3) for AI analysis
-- **Fallback**: Uses static watchlist if ranking API unavailable
+- **Domestic (KR)**:
+  - **Step 1**: Fetch domestic fluctuation ranking as primary universe
+  - **Step 2**: Fetch domestic volume ranking for liquidity bonus
+  - **Step 3**: Compute volatility-first score (max of daily change% and intraday range%)
+  - **Step 4**: Apply liquidity bonus and return top N candidates
+- **Overseas (US/JP/HK/CN/VN)**:
+  - **Step 1**: Fetch overseas ranking universe (fluctuation rank + volume rank bonus)
+  - **Step 2**: Compute volatility-first score (max of daily change% and intraday range%)
+  - **Step 3**: Apply liquidity bonus from volume ranking
+  - **Step 4**: Return top N candidates (default 3)
+- **Fallback (overseas only)**: If ranking API is unavailable, uses dynamic universe
+  from runtime active symbols + recent traded symbols + current holdings (no static watchlist)
 - **Realtime mode only**: Daily mode uses batch processing for API efficiency
 
 **Benefits:**
 - Reduces Gemini API calls from 20-30 stocks to 1-3 qualified candidates
 - Fast Python-based filtering before expensive AI judgment
-- Logs selection context (RSI, volume_ratio, signal, score) for Evolution system
+- Logs selection context (RSI-compatible proxy, volume_ratio, signal, score) for Evolution system
 
-### 3. Brain (`src/brain/gemini_client.py`)
+### 3. Brain (`src/brain/`)
 
-**GeminiClient** — AI decision engine powered by Google Gemini
+**GeminiClient** (`gemini_client.py`) — AI decision engine powered by Google Gemini
 
 - Constructs structured prompts from market data
 - Parses JSON responses into `TradeDecision` objects (`action`, `confidence`, `rationale`)
@@ -106,11 +115,20 @@ High-frequency trading with individual stock analysis:
 - Falls back to safe HOLD on any parse/API error
 - Handles markdown-wrapped JSON, malformed responses, invalid actions
 
+**PromptOptimizer** (`prompt_optimizer.py`) — Token efficiency optimization
+
+- Reduces prompt size while preserving decision quality
+- Caches optimized prompts
+
+**ContextSelector** (`context_selector.py`) — Relevant context selection for prompts
+
+- Selects appropriate context layers for current market conditions
+
 ### 4. Risk Manager (`src/core/risk_manager.py`)
 
 **RiskManager** — Safety circuit breaker and order validation
 
-⚠️ **READ-ONLY by policy** (see [`docs/agents.md`](./agents.md))
+> **READ-ONLY by policy** (see [`docs/agents.md`](./agents.md))
 
 - **Circuit Breaker**: Halts all trading via `SystemExit` when daily P&L drops below -3.0%
   - Threshold may only be made stricter, never relaxed
@@ -118,7 +136,79 @@ High-frequency trading with individual stock analysis:
 - **Fat-Finger Protection**: Rejects orders exceeding 30% of available cash
   - Must always be enforced, cannot be disabled
 
-### 5. Notifications (`src/notifications/telegram_client.py`)
+### 5. Strategy (`src/strategy/`)
+
+**Pre-Market Planner** (`pre_market_planner.py`) — AI playbook generation
+
+- Runs before market open (configurable `PRE_MARKET_MINUTES`, default 30)
+- Generates scenario-based playbooks via single Gemini API call per market
+- Handles timeout (`PLANNER_TIMEOUT_SECONDS`, default 60) with defensive playbook fallback
+- Persists playbooks to database for audit trail
+
+**Scenario Engine** (`scenario_engine.py`) — Local scenario matching
+
+- Matches live market data against pre-computed playbook scenarios
+- No AI calls during trading hours — pure Python matching logic
+- Returns matched scenarios with confidence scores
+- Configurable `MAX_SCENARIOS_PER_STOCK` (default 5)
+- Periodic rescan at `RESCAN_INTERVAL_SECONDS` (default 300)
+
+**Playbook Store** (`playbook_store.py`) — Playbook persistence
+
+- SQLite-backed storage for daily playbooks
+- Date and market-based retrieval
+- Status tracking (generated, active, expired)
+
+**Models** (`models.py`) — Pydantic data models
+
+- Scenario, Playbook, MatchResult, and related type definitions
+
+### 6. Context System (`src/context/`)
+
+**Context Store** (`store.py`) — L1-L7 hierarchical memory
+
+- 7-layer context system (see [docs/context-tree.md](./context-tree.md)):
+  - L1: Tick-level (real-time price)
+  - L2: Intraday (session summary)
+  - L3: Daily (end-of-day)
+  - L4: Weekly (trend analysis)
+  - L5: Monthly (strategy review)
+  - L6: Daily Review (scorecard)
+  - L7: Evolution (long-term learning)
+- Key-value storage with timeframe tagging
+- SQLite persistence in `contexts` table
+
+**Context Scheduler** (`scheduler.py`) — Periodic aggregation
+
+- Scheduled summarization from lower to higher layers
+- Configurable aggregation intervals
+
+**Context Summarizer** (`summarizer.py`) — Layer summarization
+
+- Aggregates lower-layer data into higher-layer summaries
+
+### 7. Dashboard (`src/dashboard/`)
+
+**FastAPI App** (`app.py`) — Read-only monitoring dashboard
+
+- Runs as daemon thread when enabled (`--dashboard` CLI flag or `DASHBOARD_ENABLED=true`)
+- Configurable host/port (`DASHBOARD_HOST`, `DASHBOARD_PORT`, default `127.0.0.1:8080`)
+- Serves static HTML frontend
+
+**8 API Endpoints:**
+
+| Endpoint | Method | Description |
+|----------|--------|-------------|
+| `/` | GET | Static HTML dashboard |
+| `/api/status` | GET | Daily trading status by market |
+| `/api/playbook/{date}` | GET | Playbook for specific date and market |
+| `/api/scorecard/{date}` | GET | Daily scorecard from L6_DAILY context |
+| `/api/performance` | GET | Trading performance metrics (by market + combined) |
+| `/api/context/{layer}` | GET | Query context by layer (L1-L7) |
+| `/api/decisions` | GET | Decision log entries with outcomes |
+| `/api/scenarios/active` | GET | Today's matched scenarios |
+
+### 8. Notifications (`src/notifications/telegram_client.py`)
 
 **TelegramClient** — Real-time event notifications via Telegram Bot API
 
@@ -126,7 +216,13 @@ High-frequency trading with individual stock analysis:
 - Non-blocking: failures are logged but never crash trading
 - Rate-limited: 1 message/second default to respect Telegram API limits
 - Auto-disabled when credentials missing
-- Gracefully handles API errors, network timeouts, invalid tokens
+
+**TelegramCommandHandler** — Bidirectional command interface
+
+- Long polling from Telegram API (configurable `TELEGRAM_POLLING_INTERVAL`)
+- 9 interactive commands: `/help`, `/status`, `/positions`, `/report`, `/scenarios`, `/review`, `/dashboard`, `/stop`, `/resume`
+- Authorization filtering by `TELEGRAM_CHAT_ID`
+- Enable/disable via `TELEGRAM_COMMANDS_ENABLED` (default: true)
 
 **Notification Types:**
 - Trade execution (BUY/SELL with confidence)
@@ -134,12 +230,12 @@ High-frequency trading with individual stock analysis:
 - Fat-finger protection triggers (order rejection)
 - Market open/close events
 - System startup/shutdown status
+- Playbook generation results
+- Stop-loss monitoring alerts
 
-**Setup:** See [src/notifications/README.md](../src/notifications/README.md) for bot creation and configuration.
+### 9. Evolution (`src/evolution/`)
 
-### 6. Evolution (`src/evolution/optimizer.py`)
-
-**StrategyOptimizer** — Self-improvement loop
+**StrategyOptimizer** (`optimizer.py`) — Self-improvement loop
 
 - Analyzes high-confidence losing trades from SQLite
 - Asks Gemini to generate new `BaseStrategy` subclasses
@@ -147,99 +243,198 @@ High-frequency trading with individual stock analysis:
 - Simulates PR creation for human review
 - Only activates strategies that pass all tests
 
+**DailyReview** (`daily_review.py`) — End-of-day review
+
+- Generates comprehensive trade performance summary
+- Stores results in L6_DAILY context layer
+- Tracks win rate, P&L, confidence accuracy
+
+**DailyScorecard** (`scorecard.py`) — Performance scoring
+
+- Calculates daily metrics (trades, P&L, win rate, avg confidence)
+- Enables trend tracking across days
+
+**Stop-Loss Monitoring** — Real-time position protection
+
+- Monitors positions against stop-loss levels from playbook scenarios
+- Sends Telegram alerts when thresholds approached or breached
+
+### 10. Decision Logger (`src/logging/decision_logger.py`)
+
+**DecisionLogger** — Comprehensive audit trail
+
+- Logs every trading decision with full context snapshot
+- Captures input data, rationale, confidence, and outcomes
+- Supports outcome tracking (P&L, accuracy) for post-analysis
+- Stored in `decision_logs` table with indexed queries
+- Review workflow support (reviewed flag, review notes)
+
+### 11. Data Integration (`src/data/`)
+
+**External Data Sources** (optional):
+
+- `news_api.py` — News sentiment data
+- `market_data.py` — Extended market data
+- `economic_calendar.py` — Economic event calendar
+
+### 12. Backup (`src/backup/`)
+
+**Disaster Recovery** (see [docs/disaster_recovery.md](./disaster_recovery.md)):
+
+- `scheduler.py` — Automated backup scheduling
+- `exporter.py` — Data export to various formats
+- `cloud_storage.py` — S3-compatible cloud backup
+- `health_monitor.py` — Backup integrity verification
+
 ## Data Flow
 
+### Playbook Mode (Daily — Primary v2 Flow)
+
+```
+┌─────────────────────────────────────────────────────────────┐
+│ Pre-Market Phase (before market open)                       │
+└─────────────────────────────────────────────────────────────┘
+                           │
+                           ▼
+        ┌──────────────────────────────────┐
+        │ Pre-Market Planner               │
+        │ - 1 Gemini API call per market   │
+        │ - Generate scenario playbook     │
+        │ - Store in playbooks table       │
+        └──────────────────┬───────────────┘
+                           │
+                           ▼
+┌─────────────────────────────────────────────────────────────┐
+│ Trading Hours (market open → close)                         │
+└─────────────────────────────────────────────────────────────┘
+                           │
+                           ▼
+        ┌──────────────────────────────────┐
+        │ Market Schedule Check            │
+        │ - Get open markets               │
+        │ - Filter by enabled markets      │
+        └──────────────────┬───────────────┘
+                           │
+                           ▼
+        ┌──────────────────────────────────┐
+        │ Scenario Engine (local)          │
+        │ - Match live data vs playbook    │
+        │ - No AI calls needed             │
+        │ - Return matched scenarios       │
+        └──────────────────┬───────────────┘
+                           │
+                           ▼
+        ┌──────────────────────────────────┐
+        │ Risk Manager: Validate Order     │
+        │ - Check circuit breaker          │
+        │ - Check fat-finger limit         │
+        └──────────────────┬───────────────┘
+                           │
+                           ▼
+        ┌──────────────────────────────────┐
+        │ Broker: Execute Order            │
+        │ - Domestic: send_order()         │
+        │ - Overseas: send_overseas_order()│
+        └──────────────────┬───────────────┘
+                           │
+                           ▼
+        ┌──────────────────────────────────┐
+        │ Decision Logger + DB             │
+        │ - Full audit trail               │
+        │ - Context snapshot               │
+        │ - Telegram notification          │
+        └──────────────────┬───────────────┘
+                           │
+                           ▼
+┌─────────────────────────────────────────────────────────────┐
+│ Post-Market Phase                                           │
+└─────────────────────────────────────────────────────────────┘
+                           │
+                           ▼
+        ┌──────────────────────────────────┐
+        │ Daily Review + Scorecard         │
+        │ - Performance summary            │
+        │ - Store in L6_DAILY context      │
+        │ - Evolution learning             │
+        └──────────────────────────────────┘
+```
+
 ### Realtime Mode (with Smart Scanner)
 
 ```
 ┌─────────────────────────────────────────────────────────────┐
-│ Main Loop (60s cycle per market)                           │
+│ Main Loop (60s cycle per market)                            │
 └─────────────────────────────────────────────────────────────┘
                            │
                            ▼
         ┌──────────────────────────────────┐
-        │ Market Schedule Check             │
-        │ - Get open markets                │
-        │ - Filter by enabled markets       │
-        │ - Wait if all closed              │
-        └──────────────────┬────────────────┘
+        │ Market Schedule Check            │
+        │ - Get open markets               │
+        │ - Filter by enabled markets      │
+        │ - Wait if all closed             │
+        └──────────────────┬───────────────┘
                            │
                            ▼
         ┌──────────────────────────────────┐
         │ Smart Scanner (Python-first)      │
-        │ - Fetch volume rankings (KIS)    │
-        │ - Get 20d price history per stock│
-        │ - Calculate RSI(14) + vol ratio  │
-        │ - Filter: vol>2x AND RSI extreme │
+        │ - Domestic: fluctuation rank     │
+        │   + volume rank bonus            │
+        │   + volatility-first scoring     │
+        │ - Overseas: ranking universe     │
+        │   + volatility-first scoring     │
+        │ - Fallback: dynamic universe     │
         │ - Return top 3 qualified stocks  │
-        └──────────────────┬────────────────┘
+        └──────────────────┬───────────────┘
                            │
                            ▼
         ┌──────────────────────────────────┐
-        │ For Each Qualified Candidate      │
-        └──────────────────┬────────────────┘
+        │ For Each Qualified Candidate     │
+        └──────────────────┬───────────────┘
                            │
                            ▼
         ┌──────────────────────────────────┐
         │ Broker: Fetch Market Data        │
         │ - Domestic: orderbook + balance  │
         │ - Overseas: price + balance      │
-        └──────────────────┬────────────────┘
+        └──────────────────┬───────────────┘
                            │
                            ▼
         ┌──────────────────────────────────┐
-        │ Calculate P&L                     │
-        │ pnl_pct = (eval - cost) / cost   │
-        └──────────────────┬────────────────┘
+        │ Brain: Get Decision (AI)         │
+        │ - Build prompt with market data  │
+        │ - Call Gemini API                │
+        │ - Parse JSON response            │
+        │ - Return TradeDecision           │
+        └──────────────────┬───────────────┘
                            │
                            ▼
         ┌──────────────────────────────────┐
-        │ Brain: Get Decision (AI)          │
-        │ - Build prompt with market data   │
-        │ - Call Gemini API                 │
-        │ - Parse JSON response             │
-        │ - Return TradeDecision            │
-        └──────────────────┬────────────────┘
+        │ Risk Manager: Validate Order     │
+        │ - Check circuit breaker          │
+        │ - Check fat-finger limit         │
+        └──────────────────┬───────────────┘
                            │
                            ▼
         ┌──────────────────────────────────┐
-        │ Risk Manager: Validate Order      │
-        │ - Check circuit breaker           │
-        │ - Check fat-finger limit          │
-        │ - Raise if validation fails       │
-        └──────────────────┬────────────────┘
+        │ Broker: Execute Order            │
+        │ - Domestic: send_order()         │
+        │ - Overseas: send_overseas_order()│
+        └──────────────────┬───────────────┘
                            │
                            ▼
         ┌──────────────────────────────────┐
-        │ Broker: Execute Order             │
-        │ - Domestic: send_order()          │
-        │ - Overseas: send_overseas_order() │
-        └──────────────────┬────────────────┘
-                           │
-                           ▼
-        ┌──────────────────────────────────┐
-        │ Notifications: Send Alert         │
-        │ - Trade execution notification    │
-        │ - Non-blocking (errors logged)    │
-        │ - Rate-limited to 1/sec           │
-        └──────────────────┬────────────────┘
-                           │
-                           ▼
-        ┌──────────────────────────────────┐
-        │ Database: Log Trade               │
-        │ - SQLite (data/trades.db)         │
-        │ - Track: action, confidence,      │
-        │   rationale, market, exchange     │
-        │ - NEW: selection_context (JSON)   │
-        │   - RSI, volume_ratio, signal     │
-        │   - For Evolution optimization    │
-        └───────────────────────────────────┘
+        │ Decision Logger + Notifications  │
+        │ - Log trade to SQLite            │
+        │ - selection_context (JSON)       │
+        │ - Telegram notification          │
+        └──────────────────────────────────┘
 ```
 
 ## Database Schema
 
-**SQLite** (`src/db.py`)
+**SQLite** (`src/db.py`) — Database: `data/trades.db`
 
+### trades
 ```sql
 CREATE TABLE trades (
     id INTEGER PRIMARY KEY AUTOINCREMENT,
@@ -251,25 +446,73 @@ CREATE TABLE trades (
     quantity INTEGER,
     price REAL,
     pnl REAL DEFAULT 0.0,
-    market TEXT DEFAULT 'KR',       -- KR | US_NASDAQ | JP | etc.
-    exchange_code TEXT DEFAULT 'KRX', -- KRX | NASD | NYSE | etc.
-    selection_context TEXT          -- JSON: {rsi, volume_ratio, signal, score}
+    market TEXT DEFAULT 'KR',
+    exchange_code TEXT DEFAULT 'KRX',
+    selection_context TEXT,        -- JSON: {rsi, volume_ratio, signal, score}
+    decision_id TEXT              -- Links to decision_logs
 );
 ```
 
-**Selection Context** (new in v0.9.0): Stores scanner selection criteria as JSON:
-```json
-{
-  "rsi": 28.5,
-  "volume_ratio": 2.7,
-  "signal": "oversold",
-  "score": 85.2
-}
+### contexts
+```sql
+CREATE TABLE contexts (
+    id INTEGER PRIMARY KEY AUTOINCREMENT,
+    layer TEXT NOT NULL,           -- L1 through L7
+    timeframe TEXT,
+    key TEXT NOT NULL,
+    value TEXT NOT NULL,           -- JSON data
+    created_at TEXT NOT NULL,
+    updated_at TEXT NOT NULL
+);
+-- Indices: idx_contexts_layer, idx_contexts_timeframe, idx_contexts_updated
 ```
 
-Enables Evolution system to analyze correlation between selection criteria and trade outcomes.
+### decision_logs
+```sql
+CREATE TABLE decision_logs (
+    decision_id TEXT PRIMARY KEY,
+    timestamp TEXT NOT NULL,
+    stock_code TEXT,
+    market TEXT,
+    exchange_code TEXT,
+    action TEXT,
+    confidence INTEGER,
+    rationale TEXT,
+    context_snapshot TEXT,         -- JSON: full context at decision time
+    input_data TEXT,              -- JSON: market data used
+    outcome_pnl REAL,
+    outcome_accuracy REAL,
+    reviewed INTEGER DEFAULT 0,
+    review_notes TEXT
+);
+-- Indices: idx_decision_logs_timestamp, idx_decision_logs_reviewed, idx_decision_logs_confidence
+```
 
-Auto-migration: Adds `market`, `exchange_code`, and `selection_context` columns if missing for backward compatibility.
+### playbooks
+```sql
+CREATE TABLE playbooks (
+    id INTEGER PRIMARY KEY AUTOINCREMENT,
+    date TEXT NOT NULL,
+    market TEXT NOT NULL,
+    status TEXT DEFAULT 'generated',
+    playbook_json TEXT NOT NULL,   -- Full playbook with scenarios
+    generated_at TEXT NOT NULL,
+    token_count INTEGER,
+    scenario_count INTEGER,
+    match_count INTEGER DEFAULT 0
+);
+-- Indices: idx_playbooks_date, idx_playbooks_market
+```
+
+### context_metadata
+```sql
+CREATE TABLE context_metadata (
+    layer TEXT PRIMARY KEY,
+    description TEXT,
+    retention_days INTEGER,
+    aggregation_source TEXT
+);
+```
 
 ## Configuration
 
@@ -284,29 +527,81 @@ KIS_APP_SECRET=your_app_secret
 KIS_ACCOUNT_NO=XXXXXXXX-XX
 GEMINI_API_KEY=your_gemini_key
 
-# Optional
+# Optional — Trading Mode
 MODE=paper                    # paper | live
-DB_PATH=data/trades.db
-CONFIDENCE_THRESHOLD=80
-MAX_LOSS_PCT=3.0
-MAX_ORDER_PCT=30.0
-ENABLED_MARKETS=KR,US_NASDAQ  # Comma-separated market codes
-
-# Trading Mode (API efficiency)
 TRADE_MODE=daily              # daily | realtime
 DAILY_SESSIONS=4              # Sessions per day (daily mode only)
 SESSION_INTERVAL_HOURS=6      # Hours between sessions (daily mode only)
 
-# Telegram Notifications (optional)
+# Optional — Database
+DB_PATH=data/trades.db
+
+# Optional — Risk
+CONFIDENCE_THRESHOLD=80
+MAX_LOSS_PCT=3.0
+MAX_ORDER_PCT=30.0
+
+# Optional — Markets
+ENABLED_MARKETS=KR,US         # Comma-separated market codes
+RATE_LIMIT_RPS=2.0            # KIS API requests per second
+
+# Optional — Pre-Market Planner (v2)
+PRE_MARKET_MINUTES=30         # Minutes before market open to generate playbook
+MAX_SCENARIOS_PER_STOCK=5     # Max scenarios per stock in playbook
+PLANNER_TIMEOUT_SECONDS=60    # Timeout for playbook generation
+DEFENSIVE_PLAYBOOK_ON_FAILURE=true  # Fallback on AI failure
+RESCAN_INTERVAL_SECONDS=300   # Scenario rescan interval during trading
+
+# Optional — Smart Scanner (realtime mode only)
+RSI_OVERSOLD_THRESHOLD=30     # 0-50, oversold threshold
+RSI_MOMENTUM_THRESHOLD=70     # 50-100, momentum threshold
+VOL_MULTIPLIER=2.0            # Minimum volume ratio (2.0 = 200%)
+SCANNER_TOP_N=3               # Max qualified candidates per scan
+
+# Optional — Dashboard
+DASHBOARD_ENABLED=false       # Enable FastAPI dashboard
+DASHBOARD_HOST=127.0.0.1      # Dashboard bind address
+DASHBOARD_PORT=8080           # Dashboard port (1-65535)
+
+# Optional — Telegram
 TELEGRAM_BOT_TOKEN=1234567890:ABCdefGHIjklMNOpqrsTUVwxyz
 TELEGRAM_CHAT_ID=123456789
 TELEGRAM_ENABLED=true
+TELEGRAM_COMMANDS_ENABLED=true   # Enable bidirectional commands
+TELEGRAM_POLLING_INTERVAL=1.0    # Command polling interval (seconds)
 
-# Smart Scanner (optional, realtime mode only)
-RSI_OVERSOLD_THRESHOLD=30    # 0-50, oversold threshold
-RSI_MOMENTUM_THRESHOLD=70    # 50-100, momentum threshold
-VOL_MULTIPLIER=2.0           # Minimum volume ratio (2.0 = 200%)
-SCANNER_TOP_N=3              # Max qualified candidates per scan
+# Optional — Backup
+BACKUP_ENABLED=false
+BACKUP_DIR=data/backups
+S3_ENDPOINT_URL=...
+S3_ACCESS_KEY=...
+S3_SECRET_KEY=...
+S3_BUCKET_NAME=...
+S3_REGION=...
+
+# Optional — External Data
+NEWS_API_KEY=...
+NEWS_API_PROVIDER=...
+MARKET_DATA_API_KEY=...
+
+# Position Sizing (optional)
+POSITION_SIZING_ENABLED=true
+POSITION_BASE_ALLOCATION_PCT=5.0
+POSITION_MIN_ALLOCATION_PCT=1.0
+POSITION_MAX_ALLOCATION_PCT=10.0
+POSITION_VOLATILITY_TARGET_SCORE=50.0
+
+# Legacy/compat scanner thresholds (kept for backward compatibility)
+RSI_OVERSOLD_THRESHOLD=30
+RSI_MOMENTUM_THRESHOLD=70
+VOL_MULTIPLIER=2.0
+
+# Overseas Ranking API (optional override; account-dependent)
+OVERSEAS_RANKING_ENABLED=true
+OVERSEAS_RANKING_FLUCT_TR_ID=HHDFS76200100
+OVERSEAS_RANKING_VOLUME_TR_ID=HHDFS76200200
+OVERSEAS_RANKING_FLUCT_PATH=/uapi/overseas-price/v1/quotations/inquire-updown-rank
+OVERSEAS_RANKING_VOLUME_PATH=/uapi/overseas-price/v1/quotations/inquire-volume-rank
 ```
 
 Tests use in-memory SQLite (`DB_PATH=":memory:"`) and dummy credentials via `tests/conftest.py`.
@@ -340,4 +635,9 @@ Tests use in-memory SQLite (`DB_PATH=":memory:"`) and dummy credentials via `tes
 - Invalid token → log error, trading unaffected
 - Rate limit exceeded → queued via rate limiter
 
-**Guarantee**: Notification failures never interrupt trading operations.
+### Playbook Generation Failure
+- Timeout → fall back to defensive playbook (`DEFENSIVE_PLAYBOOK_ON_FAILURE`)
+- API error → use previous day's playbook if available
+- No playbook → skip pre-market phase, fall back to direct AI calls
+
+**Guarantee**: Notification and dashboard failures never interrupt trading operations.

docs/commands.md

@@ -119,7 +119,7 @@ No decorator needed for async tests.
 # Install all dependencies (production + dev)
 pip install -e ".[dev]"
 
-# Run full test suite with coverage
+# Run full test suite with coverage (551 tests across 25 files)
 pytest -v --cov=src --cov-report=term-missing
 
 # Run a single test file
@@ -137,11 +137,82 @@ mypy src/ --strict
 # Run the trading agent
 python -m src.main --mode=paper
 
+# Run with dashboard enabled
+python -m src.main --mode=paper --dashboard
+
 # Docker
 docker compose up -d ouroboros          # Run agent
 docker compose --profile test up test   # Run tests in container
 ```
 
+## Dashboard
+
+The FastAPI dashboard provides read-only monitoring of the trading system.
+
+### Starting the Dashboard
+
+```bash
+# Via CLI flag
+python -m src.main --mode=paper --dashboard
+
+# Via environment variable
+DASHBOARD_ENABLED=true python -m src.main --mode=paper
+```
+
+Dashboard runs as a daemon thread on `DASHBOARD_HOST:DASHBOARD_PORT` (default: `127.0.0.1:8080`).
+
+### API Endpoints
+
+| Endpoint | Description |
+|----------|-------------|
+| `GET /` | HTML dashboard UI |
+| `GET /api/status` | Daily trading status by market |
+| `GET /api/playbook/{date}` | Playbook for specific date (query: `market`) |
+| `GET /api/scorecard/{date}` | Daily scorecard from L6_DAILY context |
+| `GET /api/performance` | Performance metrics by market and combined |
+| `GET /api/context/{layer}` | Context data by layer L1-L7 (query: `timeframe`) |
+| `GET /api/decisions` | Decision log entries (query: `limit`, `market`) |
+| `GET /api/scenarios/active` | Today's matched scenarios |
+
+## Telegram Commands
+
+When `TELEGRAM_COMMANDS_ENABLED=true` (default), the bot accepts these interactive commands:
+
+| Command | Description |
+|---------|-------------|
+| `/help` | List available commands |
+| `/status` | Show trading status (mode, markets, P&L) |
+| `/positions` | Display account summary (balance, cash, P&L) |
+| `/report` | Daily summary metrics (trades, P&L, win rate) |
+| `/scenarios` | Show today's playbook scenarios |
+| `/review` | Display recent scorecards (L6_DAILY layer) |
+| `/dashboard` | Show dashboard URL if enabled |
+| `/stop` | Pause trading |
+| `/resume` | Resume trading |
+
+Commands are only processed from the authorized `TELEGRAM_CHAT_ID`.
+
+## KIS API TR_ID 참조 문서
+
+**TR_ID를 추가하거나 수정할 때 반드시 공식 문서를 먼저 확인할 것.**
+
+공식 문서: `docs/한국투자증권_오픈API_전체문서_20260221_030000.xlsx`
+
+> ⚠️ 커뮤니티 블로그, GitHub 예제 등 비공식 자료의 TR_ID는 오래되거나 틀릴 수 있음.
+> 실제로 `VTTT1006U`(미국 매도 — 잘못됨)가 오랫동안 코드에 남아있던 사례가 있음 (Issue #189).
+
+### 주요 TR_ID 목록
+
+| 구분 | 모의투자 TR_ID | 실전투자 TR_ID | 시트명 |
+|------|---------------|---------------|--------|
+| 해외주식 매수 (미국) | `VTTT1002U` | `TTTT1002U` | 해외주식 주문 |
+| 해외주식 매도 (미국) | `VTTT1001U` | `TTTT1006U` | 해외주식 주문 |
+
+새로운 TR_ID가 필요할 때:
+1. 위 xlsx 파일에서 해당 거래 유형의 시트를 찾는다.
+2. 모의투자(`VTTT`) / 실전투자(`TTTT`) 컬럼을 구분하여 정확한 값을 사용한다.
+3. 코드에 출처 주석을 남긴다: `# Source: 한국투자증권_오픈API_전체문서 — '<시트명>' 시트`
+
 ## Environment Setup
 
 ```bash

docs/live-trading-checklist.md

@@ -0,0 +1,131 @@
+# 실전 전환 체크리스트
+
+모의 거래(paper)에서 실전(live)으로 전환하기 전에 아래 항목을 **순서대로** 모두 확인하세요.
+
+---
+
+## 1. 사전 조건
+
+### 1-1. KIS OpenAPI 실전 계좌 준비
+- [ ] 한국투자증권 계좌 개설 완료 (일반 위탁 계좌)
+- [ ] OpenAPI 실전 사용 신청 (KIS 홈페이지 → Open API → 서비스 신청)
+- [ ] 실전용 APP_KEY / APP_SECRET 발급 완료
+- [ ] KIS_ACCOUNT_NO 형식 확인: `XXXXXXXX-XX` (8자리-2자리)
+
+### 1-2. 리스크 파라미터 검토
+- [ ] `CIRCUIT_BREAKER_PCT` 확인: 기본값 -3.0% (더 엄격하게 조정 권장)
+- [ ] `FAT_FINGER_PCT` 확인: 기본값 30.0% (1회 주문 최대 잔고 대비 %)
+- [ ] `CONFIDENCE_THRESHOLD` 확인: BEARISH ≥ 90, NEUTRAL ≥ 80, BULLISH ≥ 75
+- [ ] 초기 투자금 결정 및 해외 주식 운용 한도 설정
+
+### 1-3. 시스템 요건
+- [ ] 커버리지 80% 이상 유지 확인: `pytest --cov=src`
+- [ ] 타입 체크 통과: `mypy src/ --strict`
+- [ ] Lint 통과: `ruff check src/ tests/`
+
+---
+
+## 2. 환경 설정
+
+### 2-1. `.env` 파일 수정
+
+```bash
+# 1. KIS 실전 URL로 변경 (모의: openapivts 포트 29443)
+KIS_BASE_URL=https://openapi.koreainvestment.com:9443
+
+# 2. 실전 APP_KEY / APP_SECRET으로 교체
+KIS_APP_KEY=<실전_APP_KEY>
+KIS_APP_SECRET=<실전_APP_SECRET>
+KIS_ACCOUNT_NO=<실전_계좌번호>
+
+# 3. 모드를 live로 변경
+MODE=live
+
+# 4. PAPER_OVERSEAS_CASH 비활성화 (live 모드에선 무시되지만 명시적으로 0 설정)
+PAPER_OVERSEAS_CASH=0
+```
+
+> ⚠️ `KIS_BASE_URL` 포트 주의:
+> - **모의(VTS)**: `https://openapivts.koreainvestment.com:29443`
+> - **실전**: `https://openapi.koreainvestment.com:9443`
+
+### 2-2. TR_ID 자동 분기 확인
+
+아래 TR_ID는 `MODE` 값에 따라 코드에서 **자동으로 선택**됩니다.
+별도 설정 불필요하나, 문제 발생 시 아래 표를 참조하세요.
+
+| 구분 | 모의 TR_ID | 실전 TR_ID |
+|------|-----------|-----------|
+| 국내 잔고 조회 | `VTTC8434R` | `TTTC8434R` |
+| 국내 현금 매수 | `VTTC0012U` | `TTTC0012U` |
+| 국내 현금 매도 | `VTTC0011U` | `TTTC0011U` |
+| 해외 잔고 조회 | `VTTS3012R` | `TTTS3012R` |
+| 해외 매수 | `VTTT1002U` | `TTTT1002U` |
+| 해외 매도 | `VTTT1001U` | `TTTT1006U` |
+
+> **출처**: `docs/한국투자증권_오픈API_전체문서_20260221_030000.xlsx` (공식 문서 기준)
+
+---
+
+## 3. 최종 확인
+
+### 3-1. 실전 시작 전 점검
+- [ ] DB 백업 완료: `data/trade_logs.db` → `data/backups/`
+- [ ] Telegram 알림 설정 확인 (실전에서는 알림이 더욱 중요)
+- [ ] 소액으로 첫 거래 진행 후 TR_ID/계좌 정상 동작 확인
+
+### 3-2. 실행 명령
+
+```bash
+# 실전 모드로 실행
+python -m src.main --mode=live
+
+# 대시보드 함께 실행 (별도 터미널에서 모니터링)
+python -m src.main --mode=live --dashboard
+```
+
+### 3-3. 실전 시작 직후 확인 사항
+- [ ] 로그에 `MODE=live` 출력 확인
+- [ ] 첫 잔고 조회 성공 (ConnectionError 없음)
+- [ ] Telegram 알림 수신 확인 ("System started")
+- [ ] 첫 주문 후 KIS 앱에서 체결 내역 확인
+
+---
+
+## 4. 비상 정지 방법
+
+### 즉각 정지
+```bash
+# 터미널에서 Ctrl+C (정상 종료 트리거)
+# 또는 Telegram 봇 명령:
+/stop
+```
+
+### Circuit Breaker 발동 시
+- CB가 발동되면 자동으로 거래 중단 및 Telegram 알림 전송
+- CB 임계값: `CIRCUIT_BREAKER_PCT` (기본 -3.0%)
+- **임계값은 엄격하게만 조정 가능** (더 낮은 음수 값으로만 변경)
+
+---
+
+## 5. 롤백 절차
+
+실전 전환 후 문제 발생 시:
+
+```bash
+# 1. 즉시 .env에서 MODE=paper로 복원
+# 2. 재시작
+python -m src.main --mode=paper
+
+# 3. DB에서 최근 거래 확인
+sqlite3 data/trade_logs.db "SELECT * FROM trades ORDER BY id DESC LIMIT 20;"
+```
+
+---
+
+## 관련 문서
+
+- [시스템 아키텍처](architecture.md)
+- [워크플로우 가이드](workflow.md)
+- [재해 복구](disaster_recovery.md)
+- [Agent 제약 조건](agents.md)

docs/ouroboros/00_validation_system.md

@@ -0,0 +1,56 @@
+<!--
+Doc-ID: DOC-VAL-001
+Version: 1.0.0
+Status: active
+Owner: strategy
+Updated: 2026-02-26
+-->
+
+# 문서 검증 시스템
+
+본 문서는 문서 간 허위 내용, 수치 충돌, 구현 불가능 지시를 사전에 제거하기 위한 검증 규칙이다.
+
+## 검증 목표
+
+- 단일 진실원장 기준으로 모든 지시서의 수치/규칙 정합성 보장
+- 설계 문장과 코드 작업 지시 간 추적성 보장
+- 테스트 미정의 상태에서 구현 착수 금지
+
+## 불일치 유형 정의
+
+- `RULE-DOC-001`: 정의되지 않은 요구사항 ID 사용
+- `RULE-DOC-002`: 동일 요구사항 ID에 상충되는 값(예: 슬리피지 수치) 기술
+- `RULE-DOC-003`: 시간대 미표기 또는 KST/UTC 혼용 지시
+- `RULE-DOC-004`: 주문 정책과 리스크 정책 충돌(예: 저유동 세션 시장가 허용)
+- `RULE-DOC-005`: 구현 태스크에 테스트 ID 미연결
+- `RULE-DOC-006`: 문서 라우팅 링크 깨짐
+
+## 검증 파이프라인
+
+1. 정적 검사 (자동)
+- 대상: `docs/ouroboros/*.md`
+- 검사: 메타데이터, 링크 유효성, ID 정의/참조 일치, REQ-추적성 매핑
+- 도구: `scripts/validate_ouroboros_docs.py`
+
+2. 추적성 검사 (자동 + 수동)
+- 자동: `REQ-*`가 최소 1개 `TASK-*`와 1개 `TEST-*`에 연결되었는지 확인
+- 수동: 정책 충돌 후보를 PR 체크리스트로 검토
+
+3. 도메인 무결성 검사 (수동)
+- KIS 점검시간 회피, 주문 유형 강제, Kill Switch 순서, 환율 정책이 동시에 존재하는지 점검
+- 백테스트 체결가가 보수 가정인지 점검
+
+## 변경 통제 규칙
+
+- `REQ-*` 추가/수정 시 반드시 `01_requirements_registry.md` 먼저 변경
+- `TASK-*` 수정 시 반드시 `40_acceptance_and_test_plan.md`의 대응 테스트를 동시 수정
+- 충돌 발생 시 우선순위: `requirements_registry > phase execution > code work order`
+
+적용 룰셋:
+- `RULE-DOC-001` `RULE-DOC-002` `RULE-DOC-003` `RULE-DOC-004` `RULE-DOC-005` `RULE-DOC-006`
+
+## PR 게이트
+
+- `python3 scripts/validate_ouroboros_docs.py` 성공
+- 신규/변경 `REQ-*`가 테스트 기준(`TEST-*`)과 연결됨
+- 원본 계획(v2/v3)과 모순 없음

docs/ouroboros/01_requirements_registry.md

@@ -0,0 +1,39 @@
+<!--
+Doc-ID: DOC-REQ-001
+Version: 1.0.0
+Status: active
+Owner: strategy
+Updated: 2026-02-26
+-->
+
+# 요구사항 원장 (Single Source of Truth)
+
+이 문서의 ID가 계획/구현/테스트 전 문서에서 참조되는 유일한 요구사항 집합이다.
+
+## v2 핵심 요구사항
+
+- `REQ-V2-001`: 상태는 `HOLDING`, `BE_LOCK`, `ARMED`, `EXITED` 4단계여야 한다.
+- `REQ-V2-002`: 상태 전이는 매 틱/바 평가 시 최상위 상태로 즉시 승격되어야 한다.
+- `REQ-V2-003`: `EXITED` 조건은 모든 상태보다 우선 평가되어야 한다.
+- `REQ-V2-004`: 청산 로직은 Hard Stop, BE Lock, ATR Trailing, 모델 확률 보조 트리거를 포함해야 한다.
+- `REQ-V2-005`: 라벨링은 Triple Barrier(Upper/Lower/Time) 방식이어야 한다.
+- `REQ-V2-006`: 검증은 Walk-forward + Purge/Embargo를 강제한다.
+- `REQ-V2-007`: 백테스트는 비용/슬리피지/체결실패를 반영하지 않으면 채택 불가다.
+- `REQ-V2-008`: Kill Switch는 신규주문차단 -> 미체결취소 -> 재조회 -> 리스크축소 -> 스냅샷 순서다.
+
+## v3 핵심 요구사항
+
+- `REQ-V3-001`: 모든 신호/주문/로그는 `session_id`를 포함해야 한다.
+- `REQ-V3-002`: 세션 전환 시 리스크 파라미터 재로딩이 수행되어야 한다.
+- `REQ-V3-003`: 브로커 블랙아웃 시간대에는 신규 주문이 금지되어야 한다.
+- `REQ-V3-004`: 블랙아웃 중 신호는 Queue에 적재되고, 복구 후 유효성 재검증을 거친다.
+- `REQ-V3-005`: 저유동 세션(`NXT_AFTER`, `US_PRE`, `US_DAY`, `US_AFTER`)은 시장가 주문 금지다.
+- `REQ-V3-006`: 백테스트 체결가는 불리한 방향 체결 가정을 기본으로 한다.
+- `REQ-V3-007`: US 운용은 환율 손익 분리 추적과 통화 버퍼 정책을 포함해야 한다.
+- `REQ-V3-008`: 마감/오버나잇 규칙은 Kill Switch와 충돌 없이 연동되어야 한다.
+
+## 공통 운영 요구사항
+
+- `REQ-OPS-001`: 타임존은 모든 시간 필드에 명시(KST/UTC)되어야 한다.
+- `REQ-OPS-002`: 문서의 수치 정책은 원장에서만 변경한다.
+- `REQ-OPS-003`: 구현 태스크는 반드시 테스트 태스크를 동반한다.

docs/ouroboros/10_phase_v2_execution.md

@@ -0,0 +1,63 @@
+<!--
+Doc-ID: DOC-PHASE-V2-001
+Version: 1.0.0
+Status: active
+Owner: strategy
+Updated: 2026-02-26
+-->
+
+# v2 실행 지시서 (설계 -> 코드)
+
+참조 요구사항: `REQ-V2-001` `REQ-V2-002` `REQ-V2-003` `REQ-V2-004` `REQ-V2-005` `REQ-V2-006` `REQ-V2-007` `REQ-V2-008` `REQ-OPS-001` `REQ-OPS-002` `REQ-OPS-003`
+
+## 단계 1: 도메인 모델 확정
+
+- `TASK-V2-001`: 상태머신 enum/전이 이벤트/전이 사유 스키마 설계
+- `TASK-V2-002`: `position_state` 스냅샷 구조(현재상태, peak, stops, last_reason) 정의
+- `TASK-V2-003`: 청산 판단 입력 DTO(가격, ATR, pred_prob, liquidity_signal) 정의
+
+완료 기준:
+- 상태와 전이 사유가 로그/DB에서 재현 가능
+- `REQ-V2-001`~`003`을 코드 타입 수준에서 강제
+
+## 단계 2: 청산 엔진 구현
+
+- `TASK-V2-004`: 우선순위 기반 전이 함수 구현(`evaluate_exit_first` -> `promote_state`)
+- `TASK-V2-005`: Hard Stop/BE Lock/ATR Trailing 결합 로직 구현
+- `TASK-V2-006`: 모델 확률 신호를 보조 트리거로 결합(단독 청산 금지)
+
+완료 기준:
+- 갭 상황에서 다중 조건 동시 충족 시 최상위 상태로 단번 전이
+- `REQ-V2-004` 준수
+
+## 단계 3: 라벨링/학습 데이터 파이프라인
+
+- `TASK-V2-007`: Triple Barrier 라벨러 구현(장벽 선터치 우선)
+- `TASK-V2-008`: 피처 구간/라벨 구간 분리 검증 유틸 구현
+- `TASK-V2-009`: 라벨 생성 로그(진입시각, 터치장벽, 만기장벽) 기록
+
+완료 기준:
+- look-ahead 차단 증빙 로그 확보
+- `REQ-V2-005` 충족
+
+## 단계 4: 검증 프레임워크
+
+- `TASK-V2-010`: Walk-forward split + Purge/Embargo 분할기 구현
+- `TASK-V2-011`: 베이스라인(`B0`,`B1`,`M1`) 비교 리포트 포맷 구현
+- `TASK-V2-012`: 체결 비용/슬리피지/실패 반영 백테스트 옵션 강제
+
+완료 기준:
+- `REQ-V2-006`, `REQ-V2-007` 충족
+
+## 단계 5: Kill Switch 통합
+
+- `TASK-V2-013`: Kill Switch 순차 실행 오케스트레이터 구현 (`src/core/risk_manager.py` 수정 금지)
+- `TASK-V2-014`: 주문 차단 플래그/미체결 취소/재조회 재시도 로직 구현
+- `TASK-V2-015`: 스냅샷/알림/복구 진입 절차 구현
+
+완료 기준:
+- `REQ-V2-008` 순서 일치
+
+라우팅:
+- 코드 지시 상세: [30_code_level_work_orders.md](./30_code_level_work_orders.md)
+- 테스트 상세: [40_acceptance_and_test_plan.md](./40_acceptance_and_test_plan.md)

docs/ouroboros/20_phase_v3_execution.md

@@ -0,0 +1,60 @@
+<!--
+Doc-ID: DOC-PHASE-V3-001
+Version: 1.0.0
+Status: active
+Owner: strategy
+Updated: 2026-02-26
+-->
+
+# v3 실행 지시서 (세션 확장)
+
+참조 요구사항: `REQ-V3-001` `REQ-V3-002` `REQ-V3-003` `REQ-V3-004` `REQ-V3-005` `REQ-V3-006` `REQ-V3-007` `REQ-V3-008` `REQ-OPS-001` `REQ-OPS-002` `REQ-OPS-003`
+
+## 단계 1: 세션 엔진
+
+- `TASK-V3-001`: `session_id` 분류기 구현(KR/US 확장 세션)
+- `TASK-V3-002`: 세션 전환 훅에서 리스크 파라미터 재로딩 구현
+- `TASK-V3-003`: 로그/DB 스키마에 `session_id` 필드 강제
+
+완료 기준:
+- `REQ-V3-001`, `REQ-V3-002` 충족
+
+## 단계 2: 블랙아웃/복구 제어
+
+- `TASK-V3-004`: 블랙아웃 윈도우 정책 로더 구현(설정 기반)
+- `TASK-V3-005`: 블랙아웃 중 신규 주문 차단 + 의도 큐 적재 구현
+- `TASK-V3-006`: 복구 시 동기화(잔고/미체결/체결) 후 큐 재검증 실행
+
+완료 기준:
+- `REQ-V3-003`, `REQ-V3-004` 충족
+
+## 단계 3: 주문 정책 강화
+
+- `TASK-V3-007`: 세션별 주문 타입 매트릭스 구현
+- `TASK-V3-008`: 저유동 세션 시장가 주문 하드 차단
+- `TASK-V3-009`: 재호가 간격/횟수 제한 및 주문 철회 조건 구현
+
+완료 기준:
+- `REQ-V3-005` 충족
+
+## 단계 4: 비용/체결 모델 정교화
+
+- `TASK-V3-010`: 세션별 슬리피지/비용 테이블 엔진 반영
+- `TASK-V3-011`: 불리한 체결 가정(상대 호가 방향) 체결기 구현
+- `TASK-V3-012`: 시나리오별 체결 실패/부분체결 모델 반영
+
+완료 기준:
+- `REQ-V3-006` 충족
+
+## 단계 5: 환율/오버나잇/Kill Switch 연동
+
+- `TASK-V3-013`: 전략 PnL과 FX PnL 분리 회계 구현
+- `TASK-V3-014`: USD/KRW 버퍼 규칙 위반 시 신규 진입 제한 구현
+- `TASK-V3-015`: 오버나잇 예외와 Kill Switch 우선순위 통합
+
+완료 기준:
+- `REQ-V3-007`, `REQ-V3-008` 충족
+
+라우팅:
+- 코드 지시 상세: [30_code_level_work_orders.md](./30_code_level_work_orders.md)
+- 테스트 상세: [40_acceptance_and_test_plan.md](./40_acceptance_and_test_plan.md)

docs/ouroboros/30_code_level_work_orders.md

@@ -0,0 +1,59 @@
+<!--
+Doc-ID: DOC-CODE-001
+Version: 1.0.0
+Status: active
+Owner: strategy
+Updated: 2026-02-26
+-->
+
+# 코드 레벨 작업 지시서
+
+본 문서는 파일 단위 구현 지시서다. 모든 작업은 요구사항 ID와 테스트 ID를 포함해야 한다.
+
+제약:
+- `src/core/risk_manager.py`는 READ-ONLY로 간주하고 수정하지 않는다.
+- Kill Switch는 별도 모듈(예: `src/core/kill_switch.py`)로 추가하고 상위 실행 루프에서 연동한다.
+
+## 구현 단위 A: 상태기계/청산
+
+- `TASK-CODE-001` (`REQ-V2-001`,`REQ-V2-002`,`REQ-V2-003`): `src/strategy/`에 상태기계 모듈 추가
+- `TASK-CODE-002` (`REQ-V2-004`): ATR/BE/Hard Stop 결합 청산 함수 추가
+- `TASK-CODE-003` (`REQ-V2-008`): Kill Switch 오케스트레이터를 `src/core/kill_switch.py`에 추가
+- `TEST-CODE-001`: 갭 점프 시 최고상태 승격 테스트
+- `TEST-CODE-002`: EXIT 우선순위 테스트
+
+## 구현 단위 B: 라벨링/검증
+
+- `TASK-CODE-004` (`REQ-V2-005`): Triple Barrier 라벨러 모듈 추가(`src/analysis/` 또는 `src/strategy/`)
+- `TASK-CODE-005` (`REQ-V2-006`): Walk-forward + Purge/Embargo 분할 유틸 추가
+- `TASK-CODE-006` (`REQ-V2-007`): 백테스트 실행기에서 비용/슬리피지 옵션 필수화
+- `TEST-CODE-003`: 라벨 선터치 우선 테스트
+- `TEST-CODE-004`: 누수 차단 테스트
+
+## 구현 단위 C: 세션/주문 정책
+
+- `TASK-CODE-007` (`REQ-V3-001`,`REQ-V3-002`): 세션 분류/전환 훅을 `src/markets/schedule.py` 연동
+- `TASK-CODE-008` (`REQ-V3-003`,`REQ-V3-004`): 블랙아웃 큐 처리기를 `src/broker/`에 추가
+- `TASK-CODE-009` (`REQ-V3-005`): 세션별 주문 타입 검증기 추가
+- `TEST-CODE-005`: 블랙아웃 신규주문 차단 테스트
+- `TEST-CODE-006`: 저유동 세션 시장가 거부 테스트
+
+## 구현 단위 D: 체결/환율/오버나잇
+
+- `TASK-CODE-010` (`REQ-V3-006`): 불리한 체결가 모델을 백테스트 체결기로 구현
+- `TASK-CODE-011` (`REQ-V3-007`): FX PnL 분리 회계 테이블/컬럼 추가
+- `TASK-CODE-012` (`REQ-V3-008`): 오버나잇 예외와 Kill Switch 충돌 해소 로직 구현
+- `TEST-CODE-007`: 불리한 체결가 모델 테스트
+- `TEST-CODE-008`: FX 버퍼 위반 시 신규진입 제한 테스트
+
+## 구현 단위 E: 운영/문서 거버넌스
+
+- `TASK-OPS-001` (`REQ-OPS-001`): 시간 필드/로그 스키마의 타임존 표기 강제 규칙 구현
+- `TASK-OPS-002` (`REQ-OPS-002`): 정책 수치 변경 시 `01_requirements_registry.md` 선수정 CI 체크 추가
+- `TASK-OPS-003` (`REQ-OPS-003`): `TASK-*` 없는 `REQ-*` 또는 `TEST-*` 없는 `REQ-*`를 차단하는 문서 검증 게이트 유지
+
+## 커밋 규칙
+
+- 커밋 메시지에 `TASK-*` 포함
+- PR 본문에 `REQ-*`, `TEST-*` 매핑 표 포함
+- 변경 파일마다 최소 1개 테스트 연결

docs/ouroboros/40_acceptance_and_test_plan.md

@@ -0,0 +1,63 @@
+<!--
+Doc-ID: DOC-TEST-001
+Version: 1.0.0
+Status: active
+Owner: strategy
+Updated: 2026-02-26
+-->
+
+# 수용 기준 및 테스트 계획
+
+## 수용 기준
+
+- `TEST-ACC-000` (`REQ-V2-001`): 상태 enum은 4개(`HOLDING`,`BE_LOCK`,`ARMED`,`EXITED`)만 허용한다.
+- `TEST-ACC-001` (`REQ-V2-002`): 상태 전이는 순차 if-else가 아닌 우선순위 승격으로 동작한다.
+- `TEST-ACC-010` (`REQ-V2-003`): `EXITED` 조건은 어떤 상태보다 먼저 평가된다.
+- `TEST-ACC-011` (`REQ-V2-004`): 청산 판단은 Hard Stop/BE Lock/ATR/모델보조 4요소를 모두 포함한다.
+- `TEST-ACC-012` (`REQ-V2-005`): Triple Barrier 라벨은 first-touch 규칙으로 결정된다.
+- `TEST-ACC-013` (`REQ-V2-006`): 학습/검증 분할은 Walk-forward + Purge/Embargo를 적용한다.
+- `TEST-ACC-014` (`REQ-V2-007`): 비용/슬리피지/체결실패 옵션 비활성 시 백테스트 실행을 거부한다.
+- `TEST-ACC-002` (`REQ-V2-008`): Kill Switch 실행 순서가 고정 순서를 위반하지 않는다.
+- `TEST-ACC-015` (`REQ-V3-001`): 모든 주문/로그 레코드에 `session_id`가 저장된다.
+- `TEST-ACC-016` (`REQ-V3-002`): 세션 전환 이벤트 시 리스크 파라미터가 재로딩된다.
+- `TEST-ACC-003` (`REQ-V3-003`): 블랙아웃 중 신규 주문 API 호출이 발생하지 않는다.
+- `TEST-ACC-017` (`REQ-V3-004`): 블랙아웃 큐는 복구 후 재검증을 통과한 주문만 실행한다.
+- `TEST-ACC-004` (`REQ-V3-005`): 저유동 세션 시장가 주문은 항상 거부된다.
+- `TEST-ACC-005` (`REQ-V3-006`): 백테스트 체결가가 단순 종가 체결보다 보수적 손익을 낸다.
+- `TEST-ACC-006` (`REQ-V3-007`): 전략 손익과 환율 손익이 별도 집계된다.
+- `TEST-ACC-018` (`REQ-V3-008`): 오버나잇 예외 상태에서도 Kill Switch 우선순위가 유지된다.
+- `TEST-ACC-007` (`REQ-OPS-001`): 시간 관련 필드는 타임존(KST/UTC)이 누락되면 검증 실패한다.
+- `TEST-ACC-008` (`REQ-OPS-002`): 정책 수치 변경이 원장 미반영이면 검증 실패한다.
+- `TEST-ACC-009` (`REQ-OPS-003`): `REQ-*`가 `TASK-*`/`TEST-*` 매핑 없이 존재하면 검증 실패한다.
+
+## 테스트 계층
+
+1. 단위 테스트
+- 상태 전이, 주문타입 검증, 큐 복구 로직, 체결가 모델
+
+2. 통합 테스트
+- 세션 전환 -> 주문 정책 -> 리스크 엔진 연동
+- 블랙아웃 시작/해제 이벤트 연동
+
+3. 회귀 테스트
+- 기존 `tests/` 스위트 전량 실행
+- 신규 기능 플래그 ON/OFF 비교
+
+4. 구동/모니터링 검증 (필수)
+- 개발 완료 후 시스템을 실제 구동해 핵심 경로를 관찰
+- 필수 관찰 항목: 주문 차단 정책, Kill Switch 동작, 경보/예외 로그, 세션 전환 로그
+- Runtime Verifier 코멘트로 증적(실행 명령/요약 로그) 첨부
+
+## 실행 명령
+
+```bash
+pytest -q
+python3 scripts/validate_ouroboros_docs.py
+```
+
+## 실패 처리 규칙
+
+- 문서 검증 실패 시 구현 PR 병합 금지
+- `REQ-*` 변경 후 테스트 매핑 누락 시 병합 금지
+- 회귀 실패 시 원인 모듈 분리 후 재검증
+- 구동/모니터링 증적 누락 시 검증 승인 금지

docs/ouroboros/50_scenario_matrix_and_issue_taxonomy.md

@@ -0,0 +1,68 @@
+<!--
+Doc-ID: DOC-PM-001
+Version: 1.0.0
+Status: active
+Owner: strategy
+Updated: 2026-02-26
+-->
+
+# 실전 시나리오 매트릭스 + 이슈 분류 체계
+
+목표: 운영에서 바로 사용할 수 있는 형태로 Happy Path / Failure Path / Ops Incident를 추적 가능한 ID 체계(`REQ-*`, `TASK-*`, `TEST-*`)에 매핑한다.
+
+## 1) 시나리오 매트릭스
+
+| Scenario ID | Type | Trigger | Expected System Behavior | Primary IDs (REQ/TASK/TEST) | Ticket Priority |
+|---|---|---|---|---|---|
+| `SCN-HAPPY-001` | Happy Path | KR 정규 세션에서 진입 신호 발생, 블랙아웃 아님 | 주문/로그에 `session_id` 저장 후 정책에 맞는 주문 전송 | `REQ-V3-001`, `TASK-V3-001`, `TASK-V3-003`, `TEST-ACC-015` | P1 |
+| `SCN-HAPPY-002` | Happy Path | 보유 포지션에서 BE/ATR/Hard Stop 조건 순차 도달 | 상태가 즉시 상위 단계로 승격, `EXITED` 우선 평가 보장 | `REQ-V2-002`, `REQ-V2-003`, `TASK-V2-004`, `TEST-ACC-001`, `TEST-ACC-010` | P0 |
+| `SCN-HAPPY-003` | Happy Path | 세션 전환(KR->US) 이벤트 발생 | 리스크 파라미터 자동 재로딩, 새 세션 정책으로 즉시 전환 | `REQ-V3-002`, `TASK-V3-002`, `TEST-ACC-016` | P0 |
+| `SCN-HAPPY-004` | Happy Path | 백테스트 실행 요청 | 비용/슬리피지/체결실패 옵션 누락 시 실행 거부, 포함 시 실행 | `REQ-V2-007`, `TASK-V2-012`, `TEST-ACC-014` | P1 |
+| `SCN-FAIL-001` | Failure Path | 블랙아웃 중 신규 주문 신호 발생 | 신규 주문 차단 + 주문 의도 큐 적재, API 직접 호출 금지 | `REQ-V3-003`, `REQ-V3-004`, `TASK-V3-005`, `TEST-ACC-003`, `TEST-ACC-017` | P0 |
+| `SCN-FAIL-002` | Failure Path | 저유동 세션에 시장가 주문 요청 | 시장가 하드 거부, 지정가 대체 또는 주문 취소 | `REQ-V3-005`, `TASK-V3-007`, `TASK-V3-008`, `TEST-ACC-004` | P0 |
+| `SCN-FAIL-003` | Failure Path | Kill Switch 트리거(손실/연결/리스크 한도) | 신규주문차단->미체결취소->재조회->리스크축소->스냅샷 순서 강제 | `REQ-V2-008`, `TASK-V2-013`, `TEST-ACC-002` | P0 |
+| `SCN-FAIL-004` | Failure Path | FX 버퍼 부족 상태에서 US 진입 신호 | 전략 PnL/FX PnL 분리 집계 유지, 신규 진입 제한 | `REQ-V3-007`, `TASK-V3-013`, `TASK-V3-014`, `TEST-ACC-006` | P1 |
+| `SCN-OPS-001` | Ops Incident | 브로커 점검/블랙아웃 종료 직후 | 잔고/미체결/체결 동기화 후 큐 재검증 통과 주문만 집행 | `REQ-V3-004`, `TASK-V3-006`, `TEST-ACC-017` | P0 |
+| `SCN-OPS-002` | Ops Incident | 정책 수치가 코드에만 반영되고 원장 미수정 | 문서 검증에서 실패 처리, PR 병합 차단 | `REQ-OPS-002`, `TASK-OPS-002`, `TEST-ACC-008` | P0 |
+| `SCN-OPS-003` | Ops Incident | 타임존 누락 로그/스케줄 데이터 유입 | KST/UTC 미표기 레코드 검증 실패 처리 | `REQ-OPS-001`, `TASK-OPS-001`, `TEST-ACC-007` | P1 |
+| `SCN-OPS-004` | Ops Incident | 신규 REQ 추가 후 TASK/TEST 누락 | 추적성 게이트 실패, 구현 PR 병합 차단 | `REQ-OPS-003`, `TASK-OPS-003`, `TEST-ACC-009` | P0 |
+| `SCN-OPS-005` | Ops Incident | 배포 후 런타임 이상 동작(주문오류/상태전이오류/정책위반) 탐지 | Runtime Verifier가 즉시 이슈 발행, Dev 수정 후 재관측으로 클로즈 판정 | `REQ-V2-008`, `REQ-V3-003`, `REQ-V3-005`, `TEST-ACC-002`, `TEST-ACC-003`, `TEST-ACC-004` | P0 |
+
+## 2) 이슈 분류 체계 (Issue Taxonomy)
+
+| Taxonomy | Definition | Typical Symptoms | Default Owner | Mapping Baseline |
+|---|---|---|---|---|
+| `EXEC-STATE` | 상태기계/청산 우선순위 위반 | EXIT 우선순위 깨짐, 상태 역행, 갭 대응 실패 | Strategy | `REQ-V2-001`~`REQ-V2-004`, `TASK-V2-004`~`TASK-V2-006`, `TEST-ACC-000`,`001`,`010`,`011` |
+| `EXEC-POLICY` | 세션/주문 정책 위반 | 블랙아웃 주문 전송, 저유동 시장가 허용 | Broker/Execution | `REQ-V3-003`~`REQ-V3-005`, `TASK-V3-004`~`TASK-V3-009`, `TEST-ACC-003`,`004`,`017` |
+| `BACKTEST-MODEL` | 백테스트 현실성/검증 무결성 위반 | 비용 옵션 off로 실행, 체결가 과낙관 | Research | `REQ-V2-006`,`REQ-V2-007`,`REQ-V3-006`, `TASK-V2-010`~`012`, `TASK-V3-010`~`012`, `TEST-ACC-013`,`014`,`005` |
+| `RISK-EMERGENCY` | Kill Switch/리스크 비상 대응 실패 | 순서 위반, 차단 누락, 복구 절차 누락 | Risk | `REQ-V2-008`,`REQ-V3-008`, `TASK-V2-013`~`015`, `TASK-V3-015`, `TEST-ACC-002`,`018` |
+| `FX-ACCOUNTING` | 환율/통화 버퍼 정책 위반 | 전략손익/환차손익 혼합 집계, 버퍼 미적용 | Risk + Data | `REQ-V3-007`, `TASK-V3-013`,`014`, `TEST-ACC-006` |
+| `OPS-GOVERNANCE` | 문서/추적성/타임존 거버넌스 위반 | 원장 미수정, TEST 누락, 타임존 미표기 | PM + QA | `REQ-OPS-001`~`003`, `TASK-OPS-001`~`003`, `TEST-ACC-007`~`009` |
+| `RUNTIME-VERIFY` | 실동작 모니터링 검증 | 배포 후 이상 현상, 간헐 오류, 테스트 미포착 회귀 | Runtime Verifier + TPM | 관련 `REQ/TASK/TEST`와 런타임 로그 증적 필수 |
+
+## 3) 티켓 생성 규칙 (Implementable)
+
+1. 모든 이슈는 `taxonomy + scenario_id`를 제목에 포함한다.  
+   예: `[EXEC-POLICY][SCN-FAIL-001] blackout 주문 차단 누락`
+2. 본문 필수 항목: 재현절차, 기대결과, 실제결과, 영향범위, 롤백/완화책.
+3. 본문에 최소 1개 `REQ-*`, 1개 `TASK-*`, 1개 `TEST-*`를 명시한다.
+4. 우선순위 기준:
+- P0: 실주문 위험, Kill Switch, 블랙아웃/시장가 정책, 추적성 게이트 실패
+- P1: 손익 왜곡 가능성(체결/FX/시간대), 운영 리스크 증가
+- P2: 보고서/관측성 품질 이슈(거래 안전성 영향 없음)
+5. Runtime Verifier가 발행한 `RUNTIME-VERIFY` 이슈는 Main Agent 확인 전 클로즈 금지.
+
+## 4) 즉시 생성 권장 티켓 (초기 백로그)
+
+- `TKT-P0-001`: `[EXEC-POLICY][SCN-FAIL-001]` 블랙아웃 차단 + 큐적재 + 복구 재검증 e2e 점검 (`REQ-V3-003`,`REQ-V3-004`)
+- `TKT-P0-002`: `[RISK-EMERGENCY][SCN-FAIL-003]` Kill Switch 순서 강제 검증 자동화 (`REQ-V2-008`)
+- `TKT-P0-003`: `[OPS-GOVERNANCE][SCN-OPS-004]` REQ/TASK/TEST 누락 시 PR 차단 게이트 상시 점검 (`REQ-OPS-003`)
+- `TKT-P1-001`: `[FX-ACCOUNTING][SCN-FAIL-004]` FX 버퍼 위반 시 진입 제한 회귀 케이스 보강 (`REQ-V3-007`)
+- `TKT-P1-002`: `[BACKTEST-MODEL][SCN-HAPPY-004]` 비용/슬리피지 미설정 백테스트 거부 UX 명확화 (`REQ-V2-007`)
+- `TKT-P0-004`: `[RUNTIME-VERIFY][SCN-OPS-005]` 배포 후 런타임 이상 탐지/재현/클로즈 판정 절차 자동화
+
+## 5) 운영 체크포인트
+
+- 스프린트 계획 시 `P0` 시나리오 100% 테스트 통과를 출발 조건으로 둔다.
+- 배포 승인 시 `SCN-FAIL-*`, `SCN-OPS-*` 관련 `TEST-ACC-*`를 우선 확인한다.
+- 정책 변경 PR은 반드시 원장(`01_requirements_registry.md`) 선수정 후 진행한다.

docs/ouroboros/50_tpm_control_protocol.md

@@ -0,0 +1,201 @@
+<!--
+Doc-ID: DOC-TPM-001
+Version: 1.0.0
+Status: active
+Owner: tpm
+Updated: 2026-02-26
+-->
+
+# TPM Control Protocol (Main <-> PM <-> TPM <-> Dev <-> Verifier <-> Runtime Verifier)
+
+목적:
+- PM 시나리오가 구현 가능한 단위로 분해되고, 개발/검증이 동일 ID 체계(`REQ-*`, `TASK-*`, `TEST-*`)로 닫히도록 강제한다.
+- 각 단계는 Entry/Exit gate를 통과해야 다음 단계로 이동 가능하다.
+- 주요 의사결정 포인트마다 Main Agent의 승인/의견 확인을 강제한다.
+
+## Team Roles
+
+- Main Agent: 최종 취합/우선순위/승인 게이트 오너
+- PM Agent: 시나리오/요구사항/티켓 관리
+- TPM Agent: PM-Dev-검증 간 구현 가능성/달성률 통제, 티켓 등록 및 구현 우선순위 지정 오너
+- Dev Agent: 구현 수행, 블로커 발생 시 재계획 요청
+- Verifier Agent: 문서/코드/테스트 산출물 검증
+- Runtime Verifier Agent: 실제 동작 모니터링, 이상 징후 이슈 발행, 수정 후 이슈 클로즈 판정
+
+Main Agent 아이디에이션 책임:
+- 진행 중 신규 구현 아이디어를 별도 문서에 누적 기록한다.
+- 기록 위치: [70_main_agent_ideation.md](./70_main_agent_ideation.md)
+- 각 항목은 `IDEA-*` 식별자, 배경, 기대효과, 리스크, 후속 티켓 후보를 포함해야 한다.
+
+## Main Decision Checkpoints (Mandatory)
+
+- DCP-01 범위 확정: Phase 0 종료 전 Main Agent 승인 필수
+- DCP-02 요구사항 확정: Phase 1 종료 전 Main Agent 승인 필수
+- DCP-03 구현 착수: Phase 2 종료 전 Main Agent 승인 필수
+- DCP-04 배포 승인: Phase 4 종료 후 Main Agent 최종 승인 필수
+
+## Phase Control Gates
+
+### Phase 0: Scenario Intake and Scope Lock
+
+Entry criteria:
+- PM 시나리오가 사용자 가치, 실패 모드, 우선순위를 포함해 제출됨
+- 영향 범위(모듈/세션/KR-US 시장)가 명시됨
+
+Exit criteria:
+- 시나리오가 `REQ-*` 후보에 1:1 또는 1:N 매핑됨
+- 모호한 표현("개선", "최적화")은 측정 가능한 조건으로 치환됨
+- 비범위 항목(out-of-scope) 명시
+
+Control checks:
+- PM/TPM 합의 완료
+- Main Agent 승인(DCP-01)
+- 산출물: 시나리오 카드, 초기 매핑 메모
+
+### Phase 1: Requirement Registry Gate
+
+Entry criteria:
+- Phase 0 산출물 승인
+- 변경 대상 요구사항 문서 식별 완료
+
+Exit criteria:
+- [01_requirements_registry.md](./01_requirements_registry.md)에 `REQ-*` 정의/수정 반영
+- 각 `REQ-*`가 최소 1개 `TASK-*`, 1개 `TEST-*`와 연결 가능 상태
+- 시간/정책 수치는 원장 단일 소스로 확정(`REQ-OPS-001`,`REQ-OPS-002`)
+
+Control checks:
+- `python3 scripts/validate_ouroboros_docs.py` 통과
+- Main Agent 승인(DCP-02)
+- 산출물: 업데이트된 요구사항 원장
+
+### Phase 2: Design and Work-Order Gate
+
+Entry criteria:
+- 요구사항 원장 갱신 완료
+- 영향 모듈 분석 완료(상태기계, 주문정책, 백테스트, 세션)
+
+Exit criteria:
+- [10_phase_v2_execution.md](./10_phase_v2_execution.md), [20_phase_v3_execution.md](./20_phase_v3_execution.md), [30_code_level_work_orders.md](./30_code_level_work_orders.md)에 작업 분해 완료
+- 각 작업은 구현 위치/제약/완료 조건을 가짐
+- 위험 작업(Kill Switch, blackout, session transition)은 별도 롤백 절차 포함
+
+Control checks:
+- TPM이 `REQ -> TASK` 누락 여부 검토
+- Main Agent 승인(DCP-03)
+- 산출물: 승인된 Work Order 세트
+
+### Phase 3: Implementation Gate
+
+Entry criteria:
+- 승인된 `TASK-*`가 브랜치 작업 단위로 분리됨
+- 변경 범위별 테스트 계획이 PR 본문에 링크됨
+
+Exit criteria:
+- 코드 변경이 `TASK-*`에 대응되어 추적 가능
+- 제약 준수(`src/core/risk_manager.py` 직접 수정 금지 등) 확인
+- 신규 로직마다 최소 1개 테스트 추가 또는 기존 테스트 확장
+
+Control checks:
+- PR 템플릿 내 `REQ-*`/`TASK-*`/`TEST-*` 매핑 확인
+- 산출물: 리뷰 가능한 PR
+
+### Phase 4: Verification and Acceptance Gate
+
+Entry criteria:
+- 구현 PR ready 상태
+- 테스트 케이스/픽스처 준비 완료
+
+Exit criteria:
+- [40_acceptance_and_test_plan.md](./40_acceptance_and_test_plan.md)의 해당 `TEST-ACC-*` 전부 통과
+- 회귀 테스트 통과(`pytest -q`)
+- 문서 검증 통과(`python3 scripts/validate_ouroboros_docs.py`)
+
+Control checks:
+- Verifier가 테스트 증적(로그/리포트/실행 커맨드) 첨부
+- Runtime Verifier가 스테이징/실운영 모니터링 계획 승인
+- 산출물: 수용 승인 레코드
+
+### Phase 5: Release and Post-Release Control
+
+Entry criteria:
+- Phase 4 승인
+- 운영 체크리스트 준비(세션 전환, 블랙아웃, Kill Switch)
+
+Exit criteria:
+- 배포 후 초기 관찰 윈도우에서 치명 경보 없음
+- 신규 시나리오/회귀 이슈는 다음 Cycle의 Phase 0 입력으로 환류
+- 요구사항/테스트 문서 버전 동기화 완료
+
+Control checks:
+- PM/TPM/Dev 3자 종료 확인
+- Runtime Verifier가 운영 모니터링 이슈 상태(신규/진행/해결)를 리포트
+- Main Agent 최종 승인(DCP-04)
+- 산출물: 릴리즈 노트 + 후속 액션 목록
+
+## Replan Protocol (Dev -> TPM)
+
+- 트리거:
+  - 구현 불가능(기술적 제약/외부 API 제약)
+  - 예상 대비 개발 리소스 과다(공수/인력/의존성 급증)
+- 절차:
+  1) Dev Agent가 `REPLAN-REQUEST` 발행(영향 REQ/TASK, 원인, 대안, 추가 공수 포함)
+  2) TPM Agent가 1차 심사(범위 축소/단계 분할/요구사항 조정안)
+  3) Verifier/PM 의견 수렴 후 Main Agent 승인으로 재계획 확정
+- 규칙:
+  - Main Agent 승인 없는 재계획은 실행 금지
+  - 재계획 반영 시 문서(`REQ/TASK/TEST`) 동시 갱신 필수
+
+TPM 티켓 운영 규칙:
+- TPM은 합의된 변경을 이슈로 등록하고 우선순위(`P0/P1/P2`)를 지정한다.
+- PR 본문에는 TPM이 지정한 우선순위와 범위가 그대로 반영되어야 한다.
+- 우선순위 변경은 TPM 제안 + Main Agent 승인으로만 가능하다.
+- PM/TPM/Dev/Reviewer/Verifier/Runtime Verifier는 주요 의사결정 시점마다 PR 코멘트를 남겨 결정 근거를 추적 가능 상태로 유지한다.
+
+브랜치 운영 규칙:
+- TPM은 각 티켓에 대해 `ticket temp branch -> program feature branch` PR 경로를 지정한다.
+- 티켓 머지 대상은 항상 program feature branch이며, `main`은 최종 통합 단계에서만 사용한다.
+
+## Runtime Verification Protocol
+
+- Runtime Verifier는 테스트 통과 이후 실제 동작(스테이징/실운영)을 모니터링한다.
+- 이상 동작/현상 발견 시 즉시 이슈 발행:
+  - 제목 규칙: `[RUNTIME-VERIFY][SCN-*] ...`
+  - 본문 필수: 재현조건, 관측 로그, 영향 범위, 임시 완화책, 관련 `REQ/TASK/TEST`
+- 이슈 클로즈 규칙:
+  - Dev 수정 완료 + Verifier 재검증 통과 + Runtime Verifier 재관측 정상
+  - 최종 클로즈 승인자는 Main Agent
+- 개발 완료 필수 절차:
+  - 시스템 실제 구동(스테이징/로컬 실운영 모드) 실행
+  - 모니터링 체크리스트(핵심 경보/주문 경로/예외 로그) 수행
+  - 결과를 티켓/PR 코멘트에 증적으로 첨부하지 않으면 완료로 간주하지 않음
+
+## Server Reflection Rule
+
+- `ticket temp branch -> program feature branch` 머지는 검증 승인 후 자동/수동 진행 가능하다.
+- `program feature branch -> main` 머지는 사용자 명시 승인 시에만 허용한다.
+- Main 병합 시 Main Agent가 승인 근거를 PR 코멘트에 기록한다.
+
+## Acceptance Matrix (PM Scenario -> Dev Tasks -> Verifier Checks)
+
+| PM Scenario | Requirement Coverage | Dev Tasks (Primary) | Verifier Checks (Must Pass) |
+|---|---|---|---|
+| 갭 급락/급등에서 청산 우선 처리 필요 | `REQ-V2-001`,`REQ-V2-002`,`REQ-V2-003` | `TASK-V2-004`,`TASK-CODE-001` | `TEST-ACC-000`,`TEST-ACC-001`,`TEST-ACC-010`,`TEST-CODE-001`,`TEST-CODE-002` |
+| 하드스탑 + BE락 + ATR + 모델보조를 한 엔진으로 통합 | `REQ-V2-004` | `TASK-V2-005`,`TASK-V2-006`,`TASK-CODE-002` | `TEST-ACC-011` |
+| 라벨 누수 없는 학습데이터 생성 | `REQ-V2-005` | `TASK-V2-007`,`TASK-CODE-004` | `TEST-ACC-012`,`TEST-CODE-003` |
+| 검증 프레임워크를 시계열 누수 방지 구조로 강제 | `REQ-V2-006` | `TASK-V2-010`,`TASK-CODE-005` | `TEST-ACC-013`,`TEST-CODE-004` |
+| 과낙관 백테스트 방지(비용/슬리피지/실패 강제) | `REQ-V2-007` | `TASK-V2-012`,`TASK-CODE-006` | `TEST-ACC-014` |
+| 장애 시 Kill Switch 실행 순서 고정 | `REQ-V2-008` | `TASK-V2-013`,`TASK-V2-014`,`TASK-V2-015`,`TASK-CODE-003` | `TEST-ACC-002`,`TEST-ACC-018` |
+| 세션 전환 단위 리스크/로그 추적 일관화 | `REQ-V3-001`,`REQ-V3-002` | `TASK-V3-001`,`TASK-V3-002`,`TASK-V3-003`,`TASK-CODE-007` | `TEST-ACC-015`,`TEST-ACC-016` |
+| 블랙아웃 중 주문 차단 + 복구 후 재검증 실행 | `REQ-V3-003`,`REQ-V3-004` | `TASK-V3-004`,`TASK-V3-005`,`TASK-V3-006`,`TASK-CODE-008` | `TEST-ACC-003`,`TEST-ACC-017`,`TEST-CODE-005` |
+| 저유동 세션 시장가 주문 금지 | `REQ-V3-005` | `TASK-V3-007`,`TASK-V3-008`,`TASK-CODE-009` | `TEST-ACC-004`,`TEST-CODE-006` |
+| 보수적 체결 모델을 백테스트 기본으로 설정 | `REQ-V3-006` | `TASK-V3-010`,`TASK-V3-011`,`TASK-V3-012`,`TASK-CODE-010` | `TEST-ACC-005`,`TEST-CODE-007` |
+| 전략손익/환율손익 분리 + 통화 버퍼 통제 | `REQ-V3-007` | `TASK-V3-013`,`TASK-V3-014`,`TASK-CODE-011` | `TEST-ACC-006`,`TEST-CODE-008` |
+| 오버나잇 규칙과 Kill Switch 충돌 방지 | `REQ-V3-008` | `TASK-V3-015`,`TASK-CODE-012` | `TEST-ACC-018` |
+| 타임존/정책변경/추적성 문서 거버넌스 | `REQ-OPS-001`,`REQ-OPS-002`,`REQ-OPS-003` | `TASK-OPS-001`,`TASK-OPS-002`,`TASK-OPS-003` | `TEST-ACC-007`,`TEST-ACC-008`,`TEST-ACC-009` |
+
+## 운영 규율 (TPM Enforcement Rules)
+
+- 어떤 PM 시나리오도 `REQ-*` 없는 구현 착수 금지.
+- 어떤 `REQ-*`도 `TASK-*`,`TEST-*` 없는 승인 금지.
+- Verifier는 "코드 리뷰 통과"만으로 승인 불가, 반드시 `TEST-ACC-*` 증적 필요.
+- 배포 승인권자는 Phase 4 체크리스트 미충족 시 릴리즈 보류 권한을 행사해야 한다.

docs/ouroboros/60_repo_enforcement_checklist.md

@@ -0,0 +1,103 @@
+<!--
+Doc-ID: DOC-OPS-002
+Version: 1.0.0
+Status: active
+Owner: tpm
+Updated: 2026-02-26
+-->
+
+# 저장소 강제 설정 체크리스트
+
+목표: "엄격 검증 운영"을 문서가 아니라 저장소 설정으로 강제한다.
+
+## 1) main 브랜치 보호 (필수)
+
+적용 항목:
+- direct push 금지
+- force push 금지
+- branch 삭제 금지
+- merge는 PR 경로만 허용
+
+검증:
+- `main`에 대해 직접 `git push origin main` 시 거부되는지 확인
+
+## 2) 필수 상태 체크 (필수)
+
+필수 CI 항목:
+- `validate_ouroboros_docs` (명령: `python3 scripts/validate_ouroboros_docs.py`)
+- `test` (명령: `pytest -q`)
+
+설정 기준:
+- 위 2개 체크가 `success` 아니면 머지 금지
+- 체크 스킵/중립 상태 허용 금지
+
+## 3) 필수 리뷰어 규칙 (권장 -> 필수)
+
+역할 기반 승인:
+- Verifier 1명 승인 필수
+- TPM 또는 PM 1명 승인 필수
+- Runtime Verifier 관련 변경(PR 본문에 runtime 영향 있음) 시 Runtime Verifier 승인 필수
+
+설정 기준:
+- 최소 승인 수: 2
+- 작성자 self-approval 불가
+- 새 커밋 푸시 시 기존 승인 재검토 요구
+
+## 4) 워크플로우 게이트
+
+병합 전 체크리스트:
+- 이슈 연결(`Closes #N`) 존재
+- PR 본문에 `REQ-*`, `TASK-*`, `TEST-*` 매핑 표 존재
+- `src/core/risk_manager.py` 변경 없음
+- 주요 의사결정 체크포인트(DCP-01~04) 중 해당 단계 Main Agent 확인 기록 존재
+- 주요 의사결정(리뷰 지적/수정 합의/검증 승인)에 대한 에이전트 PR 코멘트 존재
+- 티켓 PR의 base가 `main`이 아닌 program feature branch인지 확인
+
+자동 점검:
+- 문서 검증 스크립트 통과
+- 테스트 통과
+- 개발 완료 시 시스템 구동/모니터링 증적 코멘트 존재
+
+## 5) 감사 추적
+
+필수 보존 증적:
+- CI 실행 로그 링크
+- 검증 실패/복구 기록
+- 머지 승인 코멘트(Verifier/TPM)
+
+분기별 점검:
+- 브랜치 보호 규칙 drift 여부
+- 필수 CI 이름 변경/누락 여부
+
+## 6) 적용 순서 (운영 절차)
+
+1. 브랜치 보호 활성화
+2. 필수 CI 체크 연결
+3. 리뷰어 규칙 적용
+4. 샘플 PR로 거부 시나리오 테스트
+5. 정상 머지 시나리오 테스트
+
+## 7) 실패 시 조치
+
+- 브랜치 보호 미적용 발견 시: 즉시 릴리즈 중지
+- 필수 CI 우회 발견 시: 관리자 권한 점검 및 감사 이슈 발행
+- 리뷰 규칙 무효화 발견 시: 규칙 복구 후 재머지 정책 시행
+- Runtime 이상 이슈 미해결 상태에서 클로즈 시도 발견 시: 즉시 이슈 재오픈 + 릴리즈 중지
+
+## 8) 재계획(Dev Replan) 운영 규칙
+
+- Dev가 `REPLAN-REQUEST` 발행 시 TPM 심사 없이는 스코프/일정 변경 금지
+- `REPLAN-REQUEST`는 Main Agent 승인 전 \"제안\" 상태로 유지
+- 승인된 재계획은 `REQ/TASK/TEST` 문서를 동시 갱신해야 유효
+
+## 9) 서버 반영 규칙
+
+- 티켓 PR(`feature/issue-* -> feature/{stream}`)은 검증 승인 후 머지 가능하다.
+- 최종 통합 PR(`feature/{stream} -> main`)은 사용자 명시 승인 전 `tea pulls merge` 실행 금지.
+- Main 병합 시 승인 근거 코멘트 필수.
+
+## 10) 최종 main 병합 조건
+
+- 모든 티켓이 program feature branch로 병합 완료
+- Runtime Verifier의 구동/모니터링 검증 완료
+- 사용자 최종 승인 코멘트 확인 후에만 `feature -> main` PR 머지 허용

docs/ouroboros/70_main_agent_ideation.md

@@ -0,0 +1,48 @@
+<!--
+Doc-ID: DOC-IDEA-001
+Version: 1.0.0
+Status: active
+Owner: main-agent
+Updated: 2026-02-26
+-->
+
+# 메인 에이전트 아이디에이션 백로그
+
+목적:
+- 구현 진행 중 떠오른 신규 구현 아이디어를 계획 반영 전 임시 저장한다.
+- 본 문서는 사용자 검토 후 다음 계획 포함 여부를 결정하기 위한 검토 큐다.
+
+운영 규칙:
+- 각 아이디어는 `IDEA-*` 식별자를 사용한다.
+- 필수 필드: 배경, 기대효과, 리스크, 후속 티켓 후보.
+- 상태는 `proposed`, `under-review`, `accepted`, `rejected` 중 하나를 사용한다.
+
+## 아이디어 목록
+
+- `IDEA-001` (status: proposed)
+  - 제목: Kill-Switch 전역 상태를 프로세스 단일 전역에서 시장/세션 단위 상태로 분리
+  - 배경: 현재는 전역 block 플래그 기반이라 시장별 분리 제어가 제한될 수 있음
+  - 기대효과: KR/US 병행 운용 시 한 시장 장애가 다른 시장 주문을 불필요하게 막는 리스크 축소
+  - 리스크: 상태 동기화 복잡도 증가, 테스트 케이스 확장 필요
+  - 후속 티켓 후보: `TKT-P1-KS-SCOPE-SPLIT`
+
+- `IDEA-002` (status: proposed)
+  - 제목: Exit Engine 입력 계약(ATR/peak/model_prob/liquidity) 표준 DTO를 데이터 파이프라인에 고정
+  - 배경: 현재 ATR/모델확률 일부가 fallback 기반이라 운영 일관성이 약함
+  - 기대효과: 백테스트-실거래 입력 동형성 강화, 회귀 분석 용이
+  - 리스크: 기존 스캐너/시나리오 엔진 연동 작업량 증가
+  - 후속 티켓 후보: `TKT-P1-EXIT-CONTRACT`
+
+- `IDEA-003` (status: proposed)
+  - 제목: Runtime Verifier 자동 이슈 생성기(로그 패턴 -> 이슈 템플릿 자동화)
+  - 배경: 런타임 이상 리포트가 수동 작성 중심이라 누락 가능성 존재
+  - 기대효과: 이상 탐지 후 이슈 등록 리드타임 단축, 증적 표준화
+  - 리스크: 오탐 이슈 폭증 가능성, 필터링 룰 필요
+  - 후속 티켓 후보: `TKT-P1-RUNTIME-AUTO-ISSUE`
+
+- `IDEA-004` (status: proposed)
+  - 제목: PR 코멘트 워크플로우 자동 점검(리뷰어->개발논의->검증승인 누락 차단)
+  - 배경: 현재 절차는 강력하지만 수행 확인이 수동
+  - 기대효과: 절차 누락 방지, 감사 추적 자동화
+  - 리스크: CLI/API 연동 유지보수 비용
+  - 후속 티켓 후보: `TKT-P0-WORKFLOW-GUARD`

docs/ouroboros/README.md

@@ -0,0 +1,40 @@
+<!--
+Doc-ID: DOC-ROOT-001
+Version: 1.0.0
+Status: active
+Owner: strategy
+Updated: 2026-02-26
+-->
+
+# The Ouroboros 실행 문서 허브
+
+이 폴더는 `ouroboros_plan_v2.txt`, `ouroboros_plan_v3.txt`를 구현 가능한 작업 지시서 수준으로 분해한 문서 허브다.
+
+## 읽기 순서 (Routing)
+
+1. 검증 체계부터 확정: [00_validation_system.md](./00_validation_system.md)
+2. 단일 진실원장(요구사항): [01_requirements_registry.md](./01_requirements_registry.md)
+3. v2 실행 지시서: [10_phase_v2_execution.md](./10_phase_v2_execution.md)
+4. v3 실행 지시서: [20_phase_v3_execution.md](./20_phase_v3_execution.md)
+5. 코드 레벨 작업 지시: [30_code_level_work_orders.md](./30_code_level_work_orders.md)
+6. 수용 기준/테스트 계획: [40_acceptance_and_test_plan.md](./40_acceptance_and_test_plan.md)
+7. PM 시나리오/이슈 분류: [50_scenario_matrix_and_issue_taxonomy.md](./50_scenario_matrix_and_issue_taxonomy.md)
+8. TPM 제어 프로토콜/수용 매트릭스: [50_tpm_control_protocol.md](./50_tpm_control_protocol.md)
+9. 저장소 강제 설정 체크리스트: [60_repo_enforcement_checklist.md](./60_repo_enforcement_checklist.md)
+10. 메인 에이전트 아이디에이션 백로그: [70_main_agent_ideation.md](./70_main_agent_ideation.md)
+
+## 운영 규칙
+
+- 계획 변경은 반드시 `01_requirements_registry.md`의 ID 정의부터 수정한다.
+- 구현 문서는 원장 ID만 참조하고 자체 숫자/정책을 새로 만들지 않는다.
+- 문서 품질 룰셋(`RULE-DOC-001` `RULE-DOC-002` `RULE-DOC-003` `RULE-DOC-004` `RULE-DOC-005` `RULE-DOC-006`)은 [00_validation_system.md](./00_validation_system.md)를 기준으로 적용한다.
+- 문서 병합 전 아래 검증을 통과해야 한다.
+
+```bash
+python3 scripts/validate_ouroboros_docs.py
+```
+
+## 원본 계획 문서
+
+- [v2](/home/agentson/repos/The-Ouroboros/ouroboros_plan_v2.txt)
+- [v3](/home/agentson/repos/The-Ouroboros/ouroboros_plan_v3.txt)

docs/requirements-log.md

@@ -7,6 +7,32 @@
 
 ---
 
+## 2026-02-21
+
+### 거래 상태 확인 중 발견된 버그 (#187)
+
+- 거래 상태 점검 요청 → SELL 주문(손절/익절)이 Fat Finger에 막혀 전혀 실행 안 됨 발견
+- **#187 (Critical)**: SELL 주문에서 Fat Finger 오탐 — `order_amount/total_cash > 30%`가 SELL에도 적용되어 대형 포지션 매도 불가
+  - JELD stop-loss -6.20% → 차단, RXT take-profit +46.13% → 차단
+  - 수정: SELL은 `check_circuit_breaker`만 호출, `validate_order`(Fat Finger 포함) 미호출
+
+---
+
+## 2026-02-20
+
+### 지속적 모니터링 및 개선점 도출 (이슈 #178~#182)
+
+- Dashboard 포함해서 실행하며 간헐적 문제 모니터링 및 개선점 자동 도출 요청
+- 모니터링 결과 발견된 이슈 목록:
+  - **#178**: uvicorn 미설치 → dashboard 미작동 + 오해의 소지 있는 시작 로그 → uvicorn 설치 완료
+  - **#179 (Critical)**: 잔액 부족 주문 실패 후 매 사이클마다 무한 재시도 (MLECW 20분 이상 반복)
+  - **#180**: 다중 인스턴스 실행 시 Telegram 409 충돌
+  - **#181**: implied_rsi 공식 포화 문제 (change_rate≥12.5% → RSI=100)
+  - **#182 (Critical)**: 보유 종목이 SmartScanner 변동성 필터에 걸려 SELL 신호 미생성 → SELL 체결 0건, 잔고 소진
+- 요구사항: 모니터링 자동화 및 주기적 개선점 리포트 도출
+
+---
+
 ## 2026-02-05
 
 ### API 효율화
@@ -86,3 +112,246 @@
   - Plan Consistency (필수), Safety & Constraints, Quality, Workflow 4개 카테고리
 
 **이슈/PR:** #114
+
+---
+
+## 2026-02-16
+
+### 문서 v2 동기화 (전체 문서 현행화)
+
+**배경:**
+- v2 기능 구현 완료 후 문서가 실제 코드 상태와 크게 괴리
+- 문서에는 54 tests / 4 files로 기록되었으나 실제로는 551 tests / 25 files
+- v2 핵심 기능(Playbook, Scenario Engine, Dashboard, Telegram Commands, Daily Review, Context System, Backup) 문서화 누락
+
+**요구사항:**
+1. `docs/testing.md` — 551 tests / 25 files 반영, 전체 테스트 파일 설명
+2. `docs/architecture.md` — v2 컴포넌트(Strategy, Context, Dashboard, Decision Logger 등) 추가, Playbook Mode 데이터 플로우, DB 스키마 5개 테이블, v2 환경변수
+3. `docs/commands.md` — Dashboard 실행 명령어, Telegram 명령어 9종 레퍼런스
+4. `CLAUDE.md` — Project Structure 트리 확장, 테스트 수 업데이트, `--dashboard` 플래그
+5. `docs/skills.md` — DB 파일명 `trades.db`로 통일, Dashboard 명령어 추가
+6. 기존에 유효한 트러블슈팅, 코드 예제 등은 유지
+
+**구현 결과:**
+- 6개 문서 파일 업데이트
+- 이전 시도(2개 커밋)는 기존 내용을 과도하게 삭제하여 폐기, main 기준으로 재작업
+
+**이슈/PR:** #131, PR #134
+
+### 해외 스캐너 개선: 랭킹 연동 + 변동성 우선 선별
+
+**배경:**
+- `run_overnight` 실운영에서 미국장 동안 거래가 0건 지속
+- 원인: 해외 시장에서도 국내 랭킹/일봉 API 경로를 사용하던 구조적 불일치
+
+**요구사항:**
+1. 해외 시장도 랭킹 API 기반 유니버스 탐색 지원
+2. 단순 상승률/거래대금 상위가 아니라, **변동성이 큰 종목**을 우선 선별
+3. 고정 티커 fallback 금지
+
+**구현 결과:**
+- `src/broker/overseas.py`
+  - `fetch_overseas_rankings()` 추가 (fluctuation / volume)
+  - 해외 랭킹 API 경로/TR_ID를 설정값으로 오버라이드 가능하게 구현
+- `src/analysis/smart_scanner.py`
+  - market-aware 스캔(국내/해외 분리)
+  - 해외: 랭킹 API 유니버스 + 변동성 우선 점수(일변동률 vs 장중 고저폭)
+  - 거래대금/거래량 랭킹은 유동성 보정 점수로 활용
+  - 랭킹 실패 시에는 동적 유니버스(active/recent/holdings)만 사용
+- `src/config.py`
+  - `OVERSEAS_RANKING_*` 설정 추가
+
+**효과:**
+- 해외 시장에서 스캐너 후보 0개로 정지되는 상황 완화
+- 종목 선정 기준이 단순 상승률 중심에서 변동성 중심으로 개선
+- 고정 티커 없이도 시장 주도 변동 종목 탐지 가능
+
+### 국내 스캐너/주문수량 정렬: 변동성 우선 + 리스크 타기팅
+
+**배경:**
+- 해외만 변동성 우선으로 동작하고, 국내는 RSI/거래량 필터 중심으로 동작해 시장 간 전략 일관성이 낮았음
+- 매수 수량이 고정 1주라서 변동성 구간별 익스포저 관리가 어려웠음
+
+**요구사항:**
+1. 국내 스캐너도 변동성 우선 선별로 해외와 통일
+2. 고변동 종목일수록 포지션 크기를 줄이는 수량 산식 적용
+
+**구현 결과:**
+- `src/analysis/smart_scanner.py`
+  - 국내: `fluctuation ranking + volume ranking bonus` 기반 점수화로 전환
+  - 점수는 `max(abs(change_rate), intraday_range_pct)` 중심으로 계산
+  - 국내 랭킹 응답 스키마 키(`price`, `change_rate`, `volume`) 파싱 보강
+- `src/main.py`
+  - `_determine_order_quantity()` 추가
+  - BUY 시 변동성 점수 기반 동적 수량 산정 적용
+  - `trading_cycle`, `run_daily_session` 경로 모두 동일 수량 로직 사용
+- `src/config.py`
+  - `POSITION_SIZING_*` 설정 추가
+
+**효과:**
+- 국내/해외 스캐너 기준이 변동성 중심으로 일관화
+- 고변동 구간에서 자동 익스포저 축소, 저변동 구간에서 과소진입 완화
+
+## 2026-02-18
+
+### KIS 해외 랭킹 API 404 에러 수정
+
+**배경:**
+- KIS 해외주식 랭킹 API(`fetch_overseas_rankings`)가 모든 거래소에서 HTTP 404를 반환
+- Smart Scanner가 해외 시장 후보 종목을 찾지 못해 거래가 전혀 실행되지 않음
+
+**근본 원인:**
+- TR_ID, API 경로, 거래소 코드가 모두 KIS 공식 문서와 불일치
+
+**구현 결과:**
+- `src/config.py`: TR_ID/Path 기본값을 KIS 공식 스펙으로 수정
+- `src/broker/overseas.py`: 랭킹 API 전용 거래소 코드 매핑 추가 (NASD→NAS, NYSE→NYS, AMEX→AMS), 올바른 API 파라미터 사용
+- `tests/test_overseas_broker.py`: 19개 단위 테스트 추가
+
+**효과:**
+- 해외 시장 랭킹 스캔이 정상 동작하여 Smart Scanner가 후보 종목 탐지 가능
+
+### Gemini prompt_override 미적용 버그 수정
+
+**배경:**
+- `run_overnight` 실행 시 모든 시장에서 Playbook 생성 실패 (`JSONDecodeError`)
+- defensive playbook으로 폴백되어 모든 종목이 HOLD 처리
+
+**근본 원인:**
+- `pre_market_planner.py`가 `market_data["prompt_override"]`에 Playbook 전용 프롬프트를 넣어 `gemini.decide()` 호출
+- `gemini_client.py`의 `decide()` 메서드가 `prompt_override` 키를 전혀 확인하지 않고 항상 일반 트레이드 결정 프롬프트 생성
+- Gemini가 Playbook JSON 대신 일반 트레이드 결정을 반환하여 파싱 실패
+
+**구현 결과:**
+- `src/brain/gemini_client.py`: `decide()` 메서드에서 `prompt_override` 우선 사용 로직 추가
+- `tests/test_brain.py`: 3개 테스트 추가 (override 전달, optimization 우회, 미지정 시 기존 동작 유지)
+
+**이슈/PR:** #143
+
+### 미국장 거래 미실행 근본 원인 분석 및 수정 (자율 실행 세션)
+
+**배경:**
+- 사용자 요청: "미국장 열면 프로그램 돌려서 거래 한 번도 못 한 거 꼭 원인 찾아서 해결해줘"
+- 프로그램을 미국장 개장(9:30 AM EST) 전부터 실행하여 실시간 로그를 분석
+
+**발견된 근본 원인 #1: Defensive Playbook — BUY 조건 없음**
+
+- Gemini free tier (20 RPD) 소진 → `generate_playbook()` 실패 → `_defensive_playbook()` 폴백
+- Defensive playbook은 `price_change_pct_below: -3.0 → SELL` 조건만 존재, BUY 조건 없음
+- ScenarioEngine이 항상 HOLD 반환 → 거래 0건
+
+**수정 #1 (PR #146, Issue #145):**
+- `src/strategy/pre_market_planner.py`: `_smart_fallback_playbook()` 메서드 추가
+  - 스캐너 signal 기반 BUY 조건 생성: `momentum → volume_ratio_above`, `oversold → rsi_below`
+  - 기존 defensive stop-loss SELL 조건 유지
+- Gemini 실패 시 defensive → smart fallback으로 전환
+- 테스트 10개 추가
+
+**발견된 근본 원인 #2: 가격 API 거래소 코드 불일치 + VTS 잔고 API 오류**
+
+실제 로그:
+```
+Scenario matched for MRNX: BUY (confidence=80)  ✓
+Decision for EWUS (NYSE American): BUY (confidence=80)  ✓
+Skip BUY APLZ (NYSE American): no affordable quantity (cash=0.00, price=0.00)  ✗
+```
+
+- `get_overseas_price()`: `NASD`/`NYSE`/`AMEX` 전송 → API가 `NAS`/`NYS`/`AMS` 기대 → 빈 응답 → `price=0`
+- `VTTS3012R` 잔고 API: "ERROR : INPUT INVALID_CHECK_ACNO" → `total_cash=0`
+- 결과: `_determine_order_quantity()` 가 0 반환 → 주문 건너뜀
+
+**수정 #2 (PR #148, Issue #147):**
+- `src/broker/overseas.py`: `_PRICE_EXCHANGE_MAP = _RANKING_EXCHANGE_MAP` 추가, 가격 API에 매핑 적용
+- `src/config.py`: `PAPER_OVERSEAS_CASH: float = Field(default=50000.0)` — paper 모드 시뮬레이션 잔고
+- `src/main.py`: 잔고 0일 때 PAPER_OVERSEAS_CASH 폴백, 가격 0일 때 candidate.price 폴백
+- 테스트 8개 추가
+
+**효과:**
+- BUY 결정 → 실제 주문 전송까지의 파이프라인이 완전히 동작
+- Paper 모드에서 KIS VTS 해외 잔고 API 오류에 관계없이 시뮬레이션 거래 가능
+
+**이슈/PR:** #145, #146, #147, #148
+
+### 해외주식 시장가 주문 거부 수정 (Fix #3, 연속 발견)
+
+**배경:**
+- Fix #147 적용 후 주문 전송 시작 → KIS VTS가 거부: "지정가만 가능한 상품입니다"
+
+**근본 원인:**
+- `trading_cycle()`, `run_daily_session()` 양쪽에서 `send_overseas_order(price=0.0)` 하드코딩
+- `price=0` → `ORD_DVSN="01"` (시장가) 전송 → KIS VTS 거부
+- Fix #147에서 이미 `current_price`를 올바르게 계산했으나 주문 시 미사용
+
+**구현 결과:**
+- `src/main.py`: 두 곳에서 `price=0.0` → `price=current_price`/`price=stock_data["current_price"]`
+- `tests/test_main.py`: 회귀 테스트 `test_overseas_buy_order_uses_limit_price` 추가
+
+**최종 확인 로그:**
+```
+Order result: 모의투자 매수주문이 완료 되었습니다.  ✓
+```
+
+**이슈/PR:** #149, #150
+
+---
+
+## 2026-02-23
+
+### 국내주식 지정가 전환 및 미체결 처리 (#232)
+
+**배경:**
+- 해외주식은 #211에서 지정가로 전환했으나 국내주식은 여전히 `price=0` (시장가)
+- KRX도 지정가 주문 사용 시 동일한 미체결 위험이 존재
+- 지정가 전환 + 미체결 처리를 함께 구현
+
+**구현 내용:**
+
+1. `src/broker/kis_api.py`
+   - `get_domestic_pending_orders()`: 모의 즉시 `[]`, 실전 `TTTC0084R` GET
+   - `cancel_domestic_order()`: 실전 `TTTC0013U` / 모의 `VTTC0013U`, hashkey 필수
+
+2. `src/main.py`
+   - import `kr_round_down` 추가
+   - `trading_cycle`, `run_daily_session` 국내 주문 `price=0` → 지정가:
+     BUY +0.2% / SELL -0.2%, `kr_round_down` KRX 틱 반올림 적용
+   - `handle_domestic_pending_orders` 함수: BUY→취소+쿨다운, SELL→취소+재주문(-0.4%, 최대1회)
+   - daily/realtime 두 모드에서 domestic pending 체크 호출 추가
+
+3. 테스트 14개 추가:
+   - `TestGetDomesticPendingOrders` (3), `TestCancelDomesticOrder` (5)
+   - `TestHandleDomesticPendingOrders` (4), `TestDomesticLimitOrderPrice` (2)
+
+**이슈/PR:** #232, PR #233
+
+---
+
+## 2026-02-24
+
+### 해외잔고 ghost position 수정 — '모의투자 잔고내역이 없습니다' 반복 방지 (#235)
+
+**배경:**
+- 모의투자 실행 시 MLECW, KNRX, NBY, SNSE 등 만료/정지된 종목에 대해
+  `모의투자 잔고내역이 없습니다` 오류가 매 사이클 반복됨
+
+**근본 원인:**
+1. `ovrs_cblc_qty` (해외잔고수량, 총 보유) vs `ord_psbl_qty` (주문가능수량, 실제 매도 가능)
+   - 기존 코드: `ovrs_cblc_qty` 우선 사용 → 만료 Warrant가 `ovrs_cblc_qty=289456`이지만 실제 `ord_psbl_qty=0`
+   - startup sync / build_overseas_symbol_universe가 이 종목들을 포지션으로 기록
+2. SELL 실패 시 DB 포지션이 닫히지 않아 다음 사이클에서도 재시도 (무한 반복)
+
+**구현 내용:**
+
+1. `src/main.py` — `_extract_held_codes_from_balance`, `_extract_held_qty_from_balance`
+   - 해외 잔고 필드 우선순위 변경: `ord_psbl_qty` → `ovrs_cblc_qty` → `hldg_qty` (fallback 유지)
+   - KIS 공식 문서(VTTS3012R) 기준: `ord_psbl_qty`가 실제 매도 가능 수량
+
+2. `src/main.py` — `trading_cycle` ghost-close 처리
+   - 해외 SELL이 `잔고내역이 없습니다`로 실패 시 DB 포지션을 `[ghost-close]` SELL로 종료
+   - exchange code 불일치 등 예외 상황에서 무한 반복 방지
+
+3. 테스트 7개 추가:
+   - `TestExtractHeldQtyFromBalance` 3개: ord_psbl_qty 우선, 0이면 0 반환, fallback
+   - `TestExtractHeldCodesFromBalance` 2개: ord_psbl_qty=0인 종목 제외, fallback
+   - `TestOverseasGhostPositionClose` 2개: ghost-close 로그 확인, 일반 오류 무시
+
+**이슈/PR:** #235, PR #236

docs/skills.md

@@ -34,6 +34,12 @@ python -m src.main --mode=paper
 ```
 Runs the agent in paper-trading mode (no real orders).
 
+### Start Trading Agent with Dashboard
+```bash
+python -m src.main --mode=paper --dashboard
+```
+Runs the agent with FastAPI dashboard on `127.0.0.1:8080` (configurable via `DASHBOARD_HOST`/`DASHBOARD_PORT`).
+
 ### Start Trading Agent (Production)
 ```bash
 docker compose up -d ouroboros
@@ -59,7 +65,7 @@ Analyze the last 30 days of trade logs and generate performance metrics.
 python -m src.evolution.optimizer --evolve
 ```
 Triggers the evolution engine to:
-1. Analyze `trade_logs.db` for failing patterns
+1. Analyze `trades.db` for failing patterns
 2. Ask Gemini to generate a new strategy
 3. Run tests on the new strategy
 4. Create a PR if tests pass
@@ -91,12 +97,12 @@ curl http://localhost:8080/health
 
 ### View Trade Logs
 ```bash
-sqlite3 data/trade_logs.db "SELECT * FROM trades ORDER BY timestamp DESC LIMIT 20;"
+sqlite3 data/trades.db "SELECT * FROM trades ORDER BY timestamp DESC LIMIT 20;"
 ```
 
 ### Export Trade History
 ```bash
-sqlite3 -header -csv data/trade_logs.db "SELECT * FROM trades;" > trades_export.csv
+sqlite3 -header -csv data/trades.db "SELECT * FROM trades;" > trades_export.csv
 ```
 
 ## Safety Checklist (Pre-Deploy)

docs/testing.md

@@ -2,51 +2,29 @@
 
 ## Test Structure
 
-**54 tests** across four files. `asyncio_mode = "auto"` in pyproject.toml — async tests need no special decorator.
+**551 tests** across **25 files**. `asyncio_mode = "auto"` in pyproject.toml — async tests need no special decorator.
 
 The `settings` fixture in `conftest.py` provides safe defaults with test credentials and in-memory DB.
 
 ### Test Files
 
-#### `tests/test_risk.py` (11 tests)
-- Circuit breaker boundaries
-- Fat-finger edge cases
+#### Core Components
+
+##### `tests/test_risk.py` (14 tests)
+- Circuit breaker boundaries and exact threshold triggers
+- Fat-finger edge cases and percentage validation
 - P&L calculation edge cases
 - Order validation logic
 
-**Example:**
-```python
-def test_circuit_breaker_exact_threshold(risk_manager):
-    """Circuit breaker should trip at exactly -3.0%."""
-    with pytest.raises(CircuitBreakerTripped):
-        risk_manager.validate_order(
-            current_pnl_pct=-3.0,
-            order_amount=1000,
-            total_cash=10000
-        )
-```
-
-#### `tests/test_broker.py` (6 tests)
+##### `tests/test_broker.py` (11 tests)
 - OAuth token lifecycle
 - Rate limiting enforcement
 - Hash key generation
 - Network error handling
 - SSL context configuration
 
-**Example:**
-```python
-async def test_rate_limiter(broker):
-    """Rate limiter should delay requests to stay under 10 RPS."""
-    start = time.monotonic()
-    for _ in range(15):  # 15 requests
-        await broker._rate_limiter.acquire()
-    elapsed = time.monotonic() - start
-    assert elapsed >= 1.0  # Should take at least 1 second
-```
-
-#### `tests/test_brain.py` (18 tests)
-- Valid JSON parsing
-- Markdown-wrapped JSON handling
+##### `tests/test_brain.py` (24 tests)
+- Valid JSON parsing and markdown-wrapped JSON handling
 - Malformed JSON fallback
 - Missing fields handling
 - Invalid action validation
@@ -54,33 +32,143 @@ async def test_rate_limiter(broker):
 - Empty response handling
 - Prompt construction for different markets
 
-**Example:**
-```python
-async def test_confidence_below_threshold_forces_hold(brain):
-    """Decisions below confidence threshold should force HOLD."""
-    decision = brain.parse_response('{"action":"BUY","confidence":70,"rationale":"test"}')
-    assert decision.action == "HOLD"
-    assert decision.confidence == 70
-```
-
-#### `tests/test_market_schedule.py` (19 tests)
+##### `tests/test_market_schedule.py` (24 tests)
 - Market open/close logic
 - Timezone handling (UTC, Asia/Seoul, America/New_York, etc.)
 - DST (Daylight Saving Time) transitions
-- Weekend handling
-- Lunch break logic
+- Weekend handling and lunch break logic
 - Multiple market filtering
 - Next market open calculation
 
-**Example:**
-```python
-def test_is_market_open_during_trading_hours():
-    """Market should be open during regular trading hours."""
-    # KRX: 9:00-15:30 KST, no lunch break
-    market = MARKETS["KR"]
-    trading_time = datetime(2026, 2, 3, 10, 0, tzinfo=ZoneInfo("Asia/Seoul"))  # Monday 10:00
-    assert is_market_open(market, trading_time) is True
-```
+##### `tests/test_db.py` (3 tests)
+- Database initialization and table creation
+- Trade logging with all fields (market, exchange_code, decision_id)
+- Query and retrieval operations
+
+##### `tests/test_main.py` (37 tests)
+- Trading loop orchestration
+- Market iteration and stock processing
+- Dashboard integration (`--dashboard` flag)
+- Telegram command handler wiring
+- Error handling and graceful shutdown
+
+#### Strategy & Playbook (v2)
+
+##### `tests/test_pre_market_planner.py` (37 tests)
+- Pre-market playbook generation
+- Gemini API integration for scenario creation
+- Timeout handling and defensive playbook fallback
+- Multi-market playbook generation
+
+##### `tests/test_scenario_engine.py` (44 tests)
+- Scenario matching against live market data
+- Confidence scoring and threshold filtering
+- Multiple scenario type handling
+- Edge cases (no match, partial match, expired scenarios)
+
+##### `tests/test_playbook_store.py` (23 tests)
+- Playbook persistence to SQLite
+- Date-based retrieval and market filtering
+- Playbook status management (generated, active, expired)
+- JSON serialization/deserialization
+
+##### `tests/test_strategy_models.py` (33 tests)
+- Pydantic model validation for scenarios, playbooks, decisions
+- Field constraints and default values
+- Serialization round-trips
+
+#### Analysis & Scanning
+
+##### `tests/test_volatility.py` (24 tests)
+- ATR and RSI calculation accuracy
+- Volume surge ratio computation
+- Momentum scoring
+- Breakout/breakdown pattern detection
+- Market scanner watchlist management
+
+##### `tests/test_smart_scanner.py` (13 tests)
+- Python-first filtering pipeline
+- RSI and volume ratio filter logic
+- Candidate scoring and ranking
+- Fallback to static watchlist
+
+#### Context & Memory
+
+##### `tests/test_context.py` (18 tests)
+- L1-L7 layer storage and retrieval
+- Context key-value CRUD operations
+- Timeframe-based queries
+- Layer metadata management
+
+##### `tests/test_context_scheduler.py` (5 tests)
+- Periodic context aggregation scheduling
+- Layer summarization triggers
+
+#### Evolution & Review
+
+##### `tests/test_evolution.py` (24 tests)
+- Strategy optimization loop
+- High-confidence losing trade analysis
+- Generated strategy validation
+
+##### `tests/test_daily_review.py` (10 tests)
+- End-of-day review generation
+- Trade performance summarization
+- Context layer (L6_DAILY) integration
+
+##### `tests/test_scorecard.py` (3 tests)
+- Daily scorecard metrics calculation
+- Win rate, P&L, confidence tracking
+
+#### Notifications & Commands
+
+##### `tests/test_telegram.py` (25 tests)
+- Message sending and formatting
+- Rate limiting (leaky bucket)
+- Error handling (network timeout, invalid token)
+- Auto-disable on missing credentials
+- Notification types (trade, circuit breaker, fat-finger, market events)
+
+##### `tests/test_telegram_commands.py` (31 tests)
+- 9 command handlers (/help, /status, /positions, /report, /scenarios, /review, /dashboard, /stop, /resume)
+- Long polling and command dispatch
+- Authorization filtering by chat_id
+- Command response formatting
+
+#### Dashboard
+
+##### `tests/test_dashboard.py` (14 tests)
+- FastAPI endpoint responses (8 API routes)
+- Status, playbook, scorecard, performance, context, decisions, scenarios
+- Query parameter handling (market, date, limit)
+
+#### Performance & Quality
+
+##### `tests/test_token_efficiency.py` (34 tests)
+- Gemini token usage optimization
+- Prompt size reduction verification
+- Cache effectiveness
+
+##### `tests/test_latency_control.py` (30 tests)
+- API call latency measurement
+- Rate limiter timing accuracy
+- Async operation overhead
+
+##### `tests/test_decision_logger.py` (9 tests)
+- Decision audit trail completeness
+- Context snapshot capture
+- Outcome tracking (P&L, accuracy)
+
+##### `tests/test_data_integration.py` (38 tests)
+- External data source integration
+- News API, market data, economic calendar
+- Error handling for API failures
+
+##### `tests/test_backup.py` (23 tests)
+- Backup scheduler and execution
+- Cloud storage (S3) upload
+- Health monitoring
+- Data export functionality
 
 ## Coverage Requirements
 
@@ -91,20 +179,6 @@ Check coverage:
 pytest -v --cov=src --cov-report=term-missing
 ```
 
-Expected output:
-```
-Name                          Stmts   Miss  Cover   Missing
------------------------------------------------------------
-src/brain/gemini_client.py       85      5    94%   165-169
-src/broker/kis_api.py           120     12    90%   ...
-src/core/risk_manager.py         35      2    94%   ...
-src/db.py                        25      1    96%   ...
-src/main.py                     150     80    47%   (excluded from CI)
-src/markets/schedule.py          95      3    97%   ...
------------------------------------------------------------
-TOTAL                           510     103   80%
-```
-
 **Note:** `main.py` has lower coverage as it contains the main loop which is tested via integration/manual testing.
 
 ## Test Configuration

docs/workflow.md

@@ -5,14 +5,76 @@
 **CRITICAL: All code changes MUST follow this workflow. Direct pushes to `main` are ABSOLUTELY PROHIBITED.**
 
 1. **Create Gitea Issue First** — All features, bug fixes, and policy changes require a Gitea issue before any code is written
-2. **Create Feature Branch** — Branch from `main` using format `feature/issue-{N}-{short-description}`
-   - After creating the branch, run `git pull origin main` and rebase to ensure the branch is up to date
-3. **Implement Changes** — Write code, tests, and documentation on the feature branch
-4. **Create Pull Request** — Submit PR to `main` branch referencing the issue number
-5. **Review & Merge** — After approval, merge via PR (squash or merge commit)
+2. **Create Program Feature Branch** — Branch from `main` for the whole development stream
+   - Format: `feature/{epic-or-stream-name}`
+3. **Create Ticket Temp Branch** — Branch from the program feature branch per ticket
+   - Format: `feature/issue-{N}-{short-description}`
+4. **Implement Per Ticket** — Write code, tests, and documentation on the ticket temp branch
+5. **Create Pull Request to Program Feature Branch** — `feature/issue-N-* -> feature/{stream}`
+6. **Review/Verify and Merge into Program Feature Branch** — user approval not required
+7. **Final Integration PR to main** — Only after all ticket stages complete and explicit user approval
 
 **Never commit directly to `main`.** This policy applies to all changes, no exceptions.
 
+## Branch Strategy (Mandatory)
+
+- Team operation default branch is the **program feature branch**, not `main`.
+- Ticket-level development happens only on **ticket temp branches** cut from the program feature branch.
+- Ticket PR merges into program feature branch are allowed after verifier approval.
+- Until final user sign-off, `main` merge is prohibited.
+- 각 에이전트는 주요 의사결정(리뷰 지적, 수정 방향, 검증 승인)마다 PR 코멘트를 적극 작성해 의사결정 과정을 남긴다.
+
+## Gitea CLI Formatting Troubleshooting
+
+Issue/PR 본문 작성 시 줄바꿈(`\n`)이 문자열 그대로 저장되는 문제가 반복될 수 있다. 원인은 `-d "...\n..."` 형태에서 쉘/CLI가 이스케이프를 실제 개행으로 해석하지 않기 때문이다.
+
+권장 패턴:
+
+```bash
+ISSUE_BODY=$(cat <<'EOF'
+## Summary
+- 변경 내용 1
+- 변경 내용 2
+
+## Why
+- 배경 1
+- 배경 2
+
+## Scope
+- 포함 범위
+- 제외 범위
+EOF
+)
+
+tea issues create \
+  -t "docs: 제목" \
+  -d "$ISSUE_BODY"
+```
+
+PR도 동일하게 적용:
+
+```bash
+PR_BODY=$(cat <<'EOF'
+## Summary
+- ...
+
+## Validation
+- python3 scripts/validate_ouroboros_docs.py
+EOF
+)
+
+tea pr create \
+  --base main \
+  --head feature/issue-N-something \
+  --title "docs: ... (#N)" \
+  --description "$PR_BODY"
+```
+
+금지 패턴:
+
+- `-d "line1\nline2"` (웹 UI에 `\n` 문자 그대로 노출될 수 있음)
+- 본문에 백틱/괄호를 인라인로 넣고 적절한 quoting 없이 즉시 실행
+
 ## Agent Workflow
 
 **Modern AI development leverages specialized agents for concurrent, efficient task execution.**

ouroboros_plan_v2.txt

@@ -0,0 +1,165 @@
+[The Ouroboros] 운영/전략 계획서 v2
+작성일: 2026-02-26
+상태: 코드 구현 전 설계안(전략/검증 중심)
+
+==================================================
+0) 목적
+==================================================
+고정 익절(+3%) 중심 로직에서 벗어나, 다음을 만족하는 실전형 청산 체계로 전환한다.
+- 수익 구간 보호 (손익 역전 방지)
+- 변동성 적응형 청산
+- 예측 모델의 확률 신호를 보조적으로 결합
+- 과적합 방지를 최우선으로 한 검증 프레임워크
+
+==================================================
+1) 핵심 설계 원칙
+==================================================
+1. 예측 성능과 전략 성능을 분리 평가
+- 예측 성능: PR-AUC, Brier, Calibration
+- 전략 성능: Net PnL, Sharpe, MDD, Profit Factor, Turnover
+
+2. 시계열 검증 규율 강제
+- Walk-forward 분할
+- Purge/Embargo 적용
+- Random split 금지
+
+3. 실거래 리얼리즘 우선
+- 거래비용/슬리피지/체결실패 반영 없는 백테스트 결과는 채택 금지
+
+==================================================
+2) 매도 상태기계 (State Machine)
+==================================================
+상태:
+- HOLDING
+- BE_LOCK
+- ARMED
+- EXITED
+
+정의:
+- HOLDING: 일반 보유 상태
+- BE_LOCK: 일정 수익권 진입 시 손절선을 본전(또는 비용 반영 본전)으로 상향
+- ARMED: 추세 추적(피크 추적) 기반 청산 준비 상태
+- EXITED: 청산 완료
+
+전이 규칙(개념):
+- HOLDING -> BE_LOCK: unrealized_pnl_pct >= be_arm_pct
+- BE_LOCK -> ARMED: unrealized_pnl_pct >= arm_pct
+- ARMED -> EXITED: 아래 조건 중 하나 충족
+  1) hard stop 도달
+  2) trailing stop 도달 (peak 대비 하락)
+  3) 모델 하락확률 + 유동성 약화 조건 충족
+
+상태 전이 구현 규칙(필수):
+- 매 틱/바 평가 시 "현재 조건이 허용하는 최상위 상태"로 즉시 승격
+- 순차 if-else로 인한 전이 누락 금지 (예: 갭으로 BE_LOCK/ARMED 동시 충족)
+- EXITED 조건은 모든 상태보다 우선 평가
+- 상태 전이 로그에 이전/이후 상태, 전이 사유, 기준 가격/수익률 기록
+
+==================================================
+3) 청산 로직 구성 (4중 안전장치)
+==================================================
+A. Hard Stop
+- 계좌/포지션 보호용 절대 하한
+- 항상 활성화
+
+B. Dynamic Stop (Break-even Lock)
+- BE_LOCK 진입 시 손절선을 본전 이상으로 상향
+- "수익 포지션이 손실로 반전"되는 구조적 리스크 차단
+
+C. ATR 기반 Trailing Stop
+- 고정 trail_pct 대신 변동성 적응형 사용
+- 예시: ExitPrice = PeakPrice - (k * ATR)
+
+D. 모델 확률 신호
+- 하락전환 확률(pred_prob)이 임계값 이상일 때 청산 가중
+- 단독 트리거가 아닌 trailing/리스크 룰 보조 트리거로 사용
+
+==================================================
+4) 라벨링 체계 (Triple Barrier)
+==================================================
+목표:
+고정 H-window 라벨 편향을 줄이고, 금융 시계열의 경로 의존성을 반영한다.
+
+라벨 정의:
+- Upper barrier (익절)
+- Lower barrier (손절)
+- Time barrier (만기)
+
+규칙:
+- 세 장벽 중 "먼저 터치한 장벽"으로 라벨 확정
+- 라벨은 entry 시점 이후 데이터만 사용해 생성
+- 피처 생성 구간과 라벨 구간을 엄격 분리해 look-ahead bias 방지
+
+==================================================
+5) 검증 프레임워크
+==================================================
+5.1 분할 방식
+- Fold 단위 Walk-forward
+- Purge/Embargo로 인접 샘플 누수 차단
+
+5.2 비교군(Baseline) 구조
+- B0: 기존 고정 손절/익절
+- B1: 모델 없는 trailing only
+- M1: trailing + 모델 확률 결합
+
+5.3 채택 기준
+- M1이 B0/B1 대비 OOS(Out-of-sample)에서 일관된 우위
+- 단일 구간 성과가 아닌 fold 분포 기준으로 판단
+
+==================================================
+6) 실행 아키텍처 원칙
+==================================================
+1. 저지연 실행 경로
+- 실시간 청산 판단은 경량 엔진(룰/GBDT) 담당
+- LLM은 레짐 판단/비중 조절/상위 의사결정 보조
+
+2. 체결 현실 반영
+- 세션 유동성에 따른 슬리피지 페널티 차등 적용
+- 미체결/재호가/재접수 시나리오를 백테스트에 반영
+
+==================================================
+7) 운영 리스크 관리
+==================================================
+승격 단계:
+- Offline backtest -> Paper shadow -> Small-capital live
+
+중단(Kill Switch):
+- rolling Sharpe 악화
+- MDD 한도 초과
+- 체결 실패율/슬리피지 급등
+
+Kill Switch 실행 순서(원자적):
+1) 모든 신규 주문 차단 플래그 ON
+2) 모든 미체결 주문 취소 요청
+3) 취소 결과 재조회(실패 건 재시도)
+4) 포지션 리스크 재계산 후 강제 축소/청산 판단
+5) 상태/로그 스냅샷 저장 및 운영 경보 발송
+
+원칙:
+- 모델이 실패해도 hard stop 기반 보수 모드로 즉시 디그레이드 가능해야 함
+
+==================================================
+8) 고정 파라미터(초기안)
+==================================================
+(15분봉 단기 스윙 기준 제안)
+- KR: be_arm_pct=1.2, arm_pct=2.8, atr_period=14, atr_multiplier_k=2.2,
+      time_barrier_bars=26, p_thresh=0.62
+- US: be_arm_pct=1.0, arm_pct=2.4, atr_period=14, atr_multiplier_k=2.0,
+      time_barrier_bars=32, p_thresh=0.60
+
+민감도 범위(초기 탐색):
+- be_arm_pct: KR 0.9~1.8 / US 0.7~1.5
+- arm_pct: KR 2.2~3.8 / US 1.8~3.2
+- atr_multiplier_k: KR 1.8~2.8 / US 1.6~2.4
+- time_barrier_bars: KR 20~36 / US 24~48
+- p_thresh: 0.55~0.70
+
+==================================================
+9) 구현 전 체크리스트
+==================================================
+- 파라미터 튜닝 시 nested leakage 방지
+- 수수료/세금/슬리피지 전부 반영 여부 확인
+- 세션/타임존/DST 처리 일관성 확인
+- 모델 버전/설정 해시/실험 로그 재현성 확보
+
+끝.

ouroboros_plan_v3.txt

@@ -0,0 +1,185 @@
+[The Ouroboros] 운영확장 v3
+작성일: 2026-02-26
+상태: v2 확장판 / 야간·프리마켓 포함 글로벌 세션 운영 설계안
+
+==================================================
+0) 목적
+==================================================
+"24시간 무중단 자산 증식" 비전을 위해 거래 세션 범위를 KR 정규장 중심에서
+NXT/미국 확장 세션까지 확대한다. 핵심은 다음 3가지다.
+- 세션 인지형 의사결정
+- 세션별 리스크/비용 차등 적용
+- 시간장벽의 현실적 재정의
+
+==================================================
+1) 세션 모델 (Session-aware Engine)
+==================================================
+KR 세션:
+- NXT_PRE   : 08:00 ~ 08:50 (KST)
+- KRX_REG   : 09:00 ~ 15:30 (KST)
+- NXT_AFTER : 15:30 ~ 20:00 (KST)
+
+US 세션(KST 관점 운영):
+- US_DAY    : 10:00 ~ 18:00
+- US_PRE    : 18:00 ~ 23:30
+- US_REG    : 23:30 ~ 06:00
+- US_AFTER  : 06:00 ~ 07:00
+
+원칙:
+- 모든 피처/신호/주문/로그에 session_id를 명시적으로 포함
+- 세션 전환 시 상태 업데이트 및 리스크 파라미터 재로딩
+
+==================================================
+2) 캘린더/휴장/DST 고정 소스
+==================================================
+KR:
+- 기본: pykrx 또는 FinanceDataReader (KRX 기준)
+- 예외: 연휴/임시 휴장/NXT 특이 운영은 KIS 공지 기반 보완
+
+US:
+- pandas_market_calendars (NYSE 기준)
+- 2026 DST:
+  - 시작: 2026-03-08
+  - 종료: 2026-11-01
+
+정합성 규칙:
+- 스케줄 충돌 시 "거래소 캘린더 > 로컬 추정" 우선
+- 시장 상태(open/close/half-day)는 주문 엔진 진입 전 최종 검증
+
+KIS 점검시간 회피 정책(필수):
+- 브로커 점검/장애 블랙아웃 윈도우는 운영 설정으로 별도 관리
+- 블랙아웃 구간에는 신규 주문 전송 금지, 취소/정정도 정책적으로 제한
+- 신호는 유지하되 주문 의도는 Queue에 적재, 복구 후 유효성 재검증 뒤 실행
+- 복구 직후에는 잔고/미체결/체결내역을 우선 동기화한 뒤 주문 엔진 재가동
+
+==================================================
+3) 시간장벽 재정의
+==================================================
+v2의 time_barrier_bars 고정값을 v3에서 다음으로 확장:
+- max_holding_minutes (시장별 기본 만기)
+- 봉 개수는 세션 길이/간격으로 동적 계산
+
+기본값:
+- KR: max_holding_minutes = 2160 (약 3거래일, NXT 포함 관점)
+- US: max_holding_minutes = 4320 (약 72시간)
+
+운영 주의:
+- 고정 "일중 청산"보다 "포지션 유지 시간" 기준 만기 적용
+- 세션 종료 강제청산 규칙과 충돌 시 우선순위 명시 필요
+
+==================================================
+4) 세션별 비용/슬리피지 모델 (보수적)
+==================================================
+KRX_REG:
+- 슬리피지: 2~3틱 (약 0.05%)
+- 수수료+세금: 0.20% ~ 0.23%
+
+NXT_AFTER:
+- 슬리피지: 5~8틱 (약 0.15%)
+- 수수료+세금: 0.20% ~ 0.23%
+
+US_REG:
+- 슬리피지: 2~3틱 (약 0.03%)
+- 수수료+기타 비용: 0.07% ~ 0.15%
+
+US_PRE / US_DAY:
+- 슬리피지: 10틱+ (약 0.3% ~ 0.5%)
+- 수수료+기타 비용: 0.07% ~ 0.15%
+
+원칙:
+- 백테스트 체결가는 세션별 보수 가정 적용
+- 저유동 세션은 자동 보수 모드(p_thresh 상향, atr_k 상향) 권장
+- 백테스트 체결가 기본은 "불리한 방향 체결" 가정 (단순 close 체결 금지)
+
+세션별 주문 유형 강제(필수):
+- KRX_REG / US_REG: 지정가 우선, 시장가 제한적 허용
+- NXT_AFTER / US_PRE / US_DAY / US_AFTER: 시장가 금지
+- 저유동 세션은 최우선 지정가 또는 IOC/FOK(가격 보호 한도 포함)만 허용
+- 주문 실패 시 재호가 간격/횟수 상한을 두고, 초과 시 주문 철회
+
+==================================================
+5) 포지션/잔고 통합 규칙 (KIS 특성 반영)
+==================================================
+문제:
+- KRX/NXT 잔고 조회가 venue 단위로 분리되거나 반영 지연 가능
+
+규칙:
+- 종목 식별은 동일 종목코드(또는 ISIN) 기준 통합 포지션으로 관리
+- 다만 주문 가능 수량은 venue별 API 응답을 최종 기준으로 사용
+- 매도 가능 수량 검증은 주문 직전 재조회로 확정
+
+==================================================
+6) 마감 강제청산/오버나잇 예외 규칙
+==================================================
+기본 원칙:
+- 모든 포지션에 대해 세션 종료 10분 전 REDUCE_ALL 검토
+
+오버나잇 예외 허용 (모두 충족 시):
+1) ARMED 상태 (예: +2.8% 이상)
+2) 모델 하락확률 < 0.30
+3) 포트폴리오 현금 비중 >= 50%
+
+갭 리스크 통제:
+- 다음 개장 시 hard stop를 시가 기준으로 재산정
+- 조건 위반 시 즉시 청산 우선
+
+Kill Switch 연동:
+- MDD/실패율 임계치 초과 시 "미체결 전량 취소 -> 신규 주문 차단 -> 리스크 축소" 순서 강제
+
+==================================================
+7) 데이터 저장/용량 정책
+==================================================
+핵심 테이블(계획):
+- feature_snapshots
+- position_states
+- model_predictions
+
+저장 규칙:
+- feature_hash 기반 중복 제거
+- 가격 변화가 작아도 session_id 변경 시 강제 스냅샷
+- 월 단위 DB 로테이션 권장 (예: trading_YYYY_MM.db)
+
+==================================================
+8) 환율/정산 리스크 정책 (US 필수)
+==================================================
+원칙:
+- USD 노출은 전략 손익과 별도로 환율 손익을 분리 추적
+- 원화 주문 서비스 사용 시 가환율 체결/익일 정산 리스크를 예수금 규칙에 반영
+
+운영 규칙:
+- 환전 시점 정책(사전 환전/수시 환전)을 고정하고 로그에 기록
+- 최소 USD 버퍼와 KRW 버퍼를 각각 설정해 주문 가능금 부족 리스크 완화
+- 환율 급변 구간에는 포지션 한도 축소 또는 신규 진입 제한
+
+==================================================
+9) v3 실험 매트릭스 (우선 3선)
+==================================================
+EXP-KR-01:
+- 시장: KR
+- 포커스: NXT 야간 특화
+- 제안: time barrier 확장(예: 48 bars 상당), p_thresh 상향(0.65)
+
+EXP-US-01:
+- 시장: US
+- 포커스: 21h 준연속 운용
+- 제안: time barrier 확장(예: 80 bars 상당), atr_k 상향(2.5)
+
+EXP-HYB-01:
+- 시장: Global
+- 포커스: KR 낮 + US 밤 연계
+- 제안: 레짐 기반 자산배분 자동조절
+
+==================================================
+10) 코드 착수 전 최종 확정 체크
+==================================================
+1) 세션별 공식 캘린더 소스/우선순위
+2) 세션별 슬리피지/비용 테이블 수치
+3) 시장별 max_holding_minutes
+4) 마감 강제청산 예외 조건 임계값
+5) 블랙아웃(점검/장애) 시간대와 주문 큐 처리 규칙
+6) 세션별 허용 주문 유형(시장가 허용 범위 포함)
+7) 환전/정산 정책 및 통화 버퍼 임계값
+
+모든 항목 확정 후 Step 1 구현(코드)로 이동.
+
+끝.

pyproject.toml

@@ -9,6 +9,8 @@ dependencies = [
     "pydantic-settings>=2.1,<3",
     "google-genai>=1.0,<2",
     "scipy>=1.11,<2",
+    "fastapi>=0.110,<1",
+    "uvicorn>=0.29,<1",
 ]
 
 [project.optional-dependencies]

scripts/morning_report.sh

@@ -0,0 +1,54 @@
+#!/usr/bin/env bash
+# Morning summary for overnight run logs.
+
+set -euo pipefail
+
+LOG_DIR="${LOG_DIR:-data/overnight}"
+
+if [ ! -d "$LOG_DIR" ]; then
+    echo "로그 디렉터리가 없습니다: $LOG_DIR"
+    exit 1
+fi
+
+latest_run="$(ls -1t "$LOG_DIR"/run_*.log 2>/dev/null | head -n 1 || true)"
+latest_watchdog="$(ls -1t "$LOG_DIR"/watchdog_*.log 2>/dev/null | head -n 1 || true)"
+
+if [ -z "$latest_run" ]; then
+    echo "run 로그가 없습니다: $LOG_DIR/run_*.log"
+    exit 1
+fi
+
+echo "Overnight report"
+echo "- run log: $latest_run"
+if [ -n "$latest_watchdog" ]; then
+    echo "- watchdog log: $latest_watchdog"
+fi
+
+start_line="$(head -n 1 "$latest_run" || true)"
+end_line="$(tail -n 1 "$latest_run" || true)"
+
+info_count="$(rg -c '"level": "INFO"' "$latest_run" || true)"
+warn_count="$(rg -c '"level": "WARNING"' "$latest_run" || true)"
+error_count="$(rg -c '"level": "ERROR"' "$latest_run" || true)"
+critical_count="$(rg -c '"level": "CRITICAL"' "$latest_run" || true)"
+traceback_count="$(rg -c 'Traceback' "$latest_run" || true)"
+
+echo "- start: ${start_line:-N/A}"
+echo "- end:   ${end_line:-N/A}"
+echo "- INFO: ${info_count:-0}"
+echo "- WARNING: ${warn_count:-0}"
+echo "- ERROR: ${error_count:-0}"
+echo "- CRITICAL: ${critical_count:-0}"
+echo "- Traceback: ${traceback_count:-0}"
+
+if [ -n "$latest_watchdog" ]; then
+    watchdog_errors="$(rg -c '\[ERROR\]' "$latest_watchdog" || true)"
+    echo "- watchdog ERROR: ${watchdog_errors:-0}"
+    echo ""
+    echo "최근 watchdog 로그:"
+    tail -n 5 "$latest_watchdog" || true
+fi
+
+echo ""
+echo "최근 앱 로그:"
+tail -n 20 "$latest_run" || true

scripts/run_overnight.sh

@@ -0,0 +1,87 @@
+#!/usr/bin/env bash
+# Start The Ouroboros overnight with logs and watchdog.
+
+set -euo pipefail
+
+LOG_DIR="${LOG_DIR:-data/overnight}"
+CHECK_INTERVAL="${CHECK_INTERVAL:-30}"
+TMUX_AUTO="${TMUX_AUTO:-true}"
+TMUX_ATTACH="${TMUX_ATTACH:-true}"
+TMUX_SESSION_PREFIX="${TMUX_SESSION_PREFIX:-ouroboros_overnight}"
+
+if [ -z "${APP_CMD:-}" ]; then
+    if [ -x ".venv/bin/python" ]; then
+        PYTHON_BIN=".venv/bin/python"
+    elif command -v python3 >/dev/null 2>&1; then
+        PYTHON_BIN="python3"
+    elif command -v python >/dev/null 2>&1; then
+        PYTHON_BIN="python"
+    else
+        echo ".venv/bin/python 또는 python3/python 실행 파일을 찾을 수 없습니다."
+        exit 1
+    fi
+
+    dashboard_port="${DASHBOARD_PORT:-8080}"
+
+    APP_CMD="DASHBOARD_PORT=$dashboard_port $PYTHON_BIN -m src.main --mode=live --dashboard"
+fi
+
+mkdir -p "$LOG_DIR"
+
+timestamp="$(date +"%Y%m%d_%H%M%S")"
+RUN_LOG="$LOG_DIR/run_${timestamp}.log"
+WATCHDOG_LOG="$LOG_DIR/watchdog_${timestamp}.log"
+PID_FILE="$LOG_DIR/app.pid"
+WATCHDOG_PID_FILE="$LOG_DIR/watchdog.pid"
+
+if [ -f "$PID_FILE" ]; then
+    old_pid="$(cat "$PID_FILE" || true)"
+    if [ -n "$old_pid" ] && kill -0 "$old_pid" 2>/dev/null; then
+        echo "앱이 이미 실행 중입니다. pid=$old_pid"
+        exit 1
+    fi
+fi
+
+echo "[$(date -u +"%Y-%m-%dT%H:%M:%SZ")] starting: $APP_CMD" | tee -a "$RUN_LOG"
+nohup bash -lc "$APP_CMD" >>"$RUN_LOG" 2>&1 &
+app_pid=$!
+echo "$app_pid" > "$PID_FILE"
+
+echo "[$(date -u +"%Y-%m-%dT%H:%M:%SZ")] app pid=$app_pid" | tee -a "$RUN_LOG"
+
+nohup env PID_FILE="$PID_FILE" LOG_FILE="$WATCHDOG_LOG" CHECK_INTERVAL="$CHECK_INTERVAL" \
+    bash scripts/watchdog.sh >/dev/null 2>&1 &
+watchdog_pid=$!
+echo "$watchdog_pid" > "$WATCHDOG_PID_FILE"
+
+cat <<EOF
+시작 완료
+- app pid: $app_pid
+- watchdog pid: $watchdog_pid
+- app log: $RUN_LOG
+- watchdog log: $WATCHDOG_LOG
+
+실시간 확인:
+tail -f "$RUN_LOG"
+tail -f "$WATCHDOG_LOG"
+EOF
+
+if [ "$TMUX_AUTO" = "true" ]; then
+    if ! command -v tmux >/dev/null 2>&1; then
+        echo "tmux를 찾지 못해 자동 세션 생성은 건너뜁니다."
+        exit 0
+    fi
+
+    session_name="${TMUX_SESSION_PREFIX}_${timestamp}"
+    window_name="overnight"
+    tmux new-session -d -s "$session_name" -n "$window_name" "tail -f '$RUN_LOG'"
+    tmux split-window -t "${session_name}:${window_name}" -v "tail -f '$WATCHDOG_LOG'"
+    tmux select-layout -t "${session_name}:${window_name}" even-vertical
+
+    echo "tmux session 생성: $session_name"
+    echo "수동 접속: tmux attach -t $session_name"
+
+    if [ -z "${TMUX:-}" ] && [ "$TMUX_ATTACH" = "true" ]; then
+        tmux attach -t "$session_name"
+    fi
+fi

scripts/stop_overnight.sh

@@ -0,0 +1,76 @@
+#!/usr/bin/env bash
+# Stop The Ouroboros overnight app/watchdog/tmux session.
+
+set -euo pipefail
+
+LOG_DIR="${LOG_DIR:-data/overnight}"
+PID_FILE="$LOG_DIR/app.pid"
+WATCHDOG_PID_FILE="$LOG_DIR/watchdog.pid"
+TMUX_SESSION_PREFIX="${TMUX_SESSION_PREFIX:-ouroboros_overnight}"
+KILL_TIMEOUT="${KILL_TIMEOUT:-5}"
+
+stop_pid() {
+    local name="$1"
+    local pid="$2"
+
+    if [ -z "$pid" ]; then
+        echo "$name PID가 비어 있습니다."
+        return 1
+    fi
+
+    if ! kill -0 "$pid" 2>/dev/null; then
+        echo "$name 프로세스가 이미 종료됨 (pid=$pid)"
+        return 0
+    fi
+
+    kill "$pid" 2>/dev/null || true
+    for _ in $(seq 1 "$KILL_TIMEOUT"); do
+        if ! kill -0 "$pid" 2>/dev/null; then
+            echo "$name 종료됨 (pid=$pid)"
+            return 0
+        fi
+        sleep 1
+    done
+
+    kill -9 "$pid" 2>/dev/null || true
+    if ! kill -0 "$pid" 2>/dev/null; then
+        echo "$name 강제 종료됨 (pid=$pid)"
+        return 0
+    fi
+
+    echo "$name 종료 실패 (pid=$pid)"
+    return 1
+}
+
+status=0
+
+if [ -f "$WATCHDOG_PID_FILE" ]; then
+    watchdog_pid="$(cat "$WATCHDOG_PID_FILE" || true)"
+    stop_pid "watchdog" "$watchdog_pid" || status=1
+    rm -f "$WATCHDOG_PID_FILE"
+else
+    echo "watchdog pid 파일 없음: $WATCHDOG_PID_FILE"
+fi
+
+if [ -f "$PID_FILE" ]; then
+    app_pid="$(cat "$PID_FILE" || true)"
+    stop_pid "app" "$app_pid" || status=1
+    rm -f "$PID_FILE"
+else
+    echo "app pid 파일 없음: $PID_FILE"
+fi
+
+if command -v tmux >/dev/null 2>&1; then
+    sessions="$(tmux ls 2>/dev/null | awk -F: -v p="$TMUX_SESSION_PREFIX" '$1 ~ "^" p "_" {print $1}')"
+    if [ -n "$sessions" ]; then
+        while IFS= read -r s; do
+            [ -z "$s" ] && continue
+            tmux kill-session -t "$s" 2>/dev/null || true
+            echo "tmux 세션 종료: $s"
+        done <<< "$sessions"
+    else
+        echo "종료할 tmux 세션 없음 (prefix=${TMUX_SESSION_PREFIX}_)"
+    fi
+fi
+
+exit "$status"

scripts/validate_ouroboros_docs.py

@@ -0,0 +1,140 @@
+#!/usr/bin/env python3
+"""Validate Ouroboros planning docs for metadata, links, and ID consistency."""
+
+from __future__ import annotations
+
+import re
+import sys
+from pathlib import Path
+
+DOC_DIR = Path("docs/ouroboros")
+META_PATTERN = re.compile(
+    r"<!--\n"
+    r"Doc-ID: (?P<doc_id>[^\n]+)\n"
+    r"Version: (?P<version>[^\n]+)\n"
+    r"Status: (?P<status>[^\n]+)\n"
+    r"Owner: (?P<owner>[^\n]+)\n"
+    r"Updated: (?P<updated>\d{4}-\d{2}-\d{2})\n"
+    r"-->",
+    re.MULTILINE,
+)
+ID_PATTERN = re.compile(r"\b(?:REQ|RULE|TASK|TEST|DOC)-[A-Z0-9-]+-\d{3}\b")
+DEF_PATTERN = re.compile(r"^-\s+`(?P<id>(?:REQ|RULE|TASK|TEST|DOC)-[A-Z0-9-]+-\d{3})`", re.MULTILINE)
+LINK_PATTERN = re.compile(r"\[[^\]]+\]\((?P<link>[^)]+)\)")
+LINE_DEF_PATTERN = re.compile(r"^-\s+`(?P<id>(?:REQ|RULE|TASK|TEST|DOC)-[A-Z0-9-]+-\d{3})`.*$", re.MULTILINE)
+
+
+def iter_docs() -> list[Path]:
+    return sorted([p for p in DOC_DIR.glob("*.md") if p.is_file()])
+
+
+def validate_metadata(path: Path, text: str, errors: list[str], doc_ids: dict[str, Path]) -> None:
+    match = META_PATTERN.search(text)
+    if not match:
+        errors.append(f"{path}: missing or malformed metadata block")
+        return
+    doc_id = match.group("doc_id").strip()
+    if doc_id in doc_ids:
+        errors.append(f"{path}: duplicate Doc-ID {doc_id} (already in {doc_ids[doc_id]})")
+    else:
+        doc_ids[doc_id] = path
+
+
+def validate_links(path: Path, text: str, errors: list[str]) -> None:
+    for m in LINK_PATTERN.finditer(text):
+        link = m.group("link").strip()
+        if not link or link.startswith("http") or link.startswith("#"):
+            continue
+        if link.startswith("/"):
+            target = Path(link)
+        else:
+            target = (path.parent / link).resolve()
+        if not target.exists():
+            errors.append(f"{path}: broken link -> {link}")
+
+
+def collect_ids(path: Path, text: str, defs: dict[str, Path], refs: dict[str, set[Path]]) -> None:
+    for m in DEF_PATTERN.finditer(text):
+        defs[m.group("id")] = path
+    for m in ID_PATTERN.finditer(text):
+        idv = m.group(0)
+        refs.setdefault(idv, set()).add(path)
+
+
+def collect_req_traceability(text: str, req_to_task: dict[str, set[str]], req_to_test: dict[str, set[str]]) -> None:
+    for m in LINE_DEF_PATTERN.finditer(text):
+        line = m.group(0)
+        item_id = m.group("id")
+        req_ids = [rid for rid in ID_PATTERN.findall(line) if rid.startswith("REQ-")]
+        if item_id.startswith("TASK-"):
+            for req_id in req_ids:
+                req_to_task.setdefault(req_id, set()).add(item_id)
+        if item_id.startswith("TEST-"):
+            for req_id in req_ids:
+                req_to_test.setdefault(req_id, set()).add(item_id)
+
+
+def main() -> int:
+    if not DOC_DIR.exists():
+        print(f"ERROR: missing directory {DOC_DIR}")
+        return 1
+
+    docs = iter_docs()
+    if not docs:
+        print(f"ERROR: no markdown docs found in {DOC_DIR}")
+        return 1
+
+    errors: list[str] = []
+    doc_ids: dict[str, Path] = {}
+    defs: dict[str, Path] = {}
+    refs: dict[str, set[Path]] = {}
+    req_to_task: dict[str, set[str]] = {}
+    req_to_test: dict[str, set[str]] = {}
+
+    for path in docs:
+        text = path.read_text(encoding="utf-8")
+        validate_metadata(path, text, errors, doc_ids)
+        validate_links(path, text, errors)
+        collect_ids(path, text, defs, refs)
+        collect_req_traceability(text, req_to_task, req_to_test)
+
+    for idv, where_used in sorted(refs.items()):
+        if idv.startswith("DOC-"):
+            continue
+        if idv not in defs:
+            files = ", ".join(str(p) for p in sorted(where_used))
+            errors.append(f"undefined ID {idv}, used in: {files}")
+
+    for idv in sorted(defs):
+        if not idv.startswith("REQ-"):
+            continue
+        if idv not in req_to_task:
+            errors.append(f"REQ without TASK mapping: {idv}")
+        if idv not in req_to_test:
+            errors.append(f"REQ without TEST mapping: {idv}")
+
+    warnings: list[str] = []
+    for idv, where_def in sorted(defs.items()):
+        if len(refs.get(idv, set())) <= 1 and (idv.startswith("REQ-") or idv.startswith("RULE-")):
+            warnings.append(f"orphan ID {idv} defined in {where_def} (not referenced elsewhere)")
+
+    if errors:
+        print("[FAIL] Ouroboros docs validation failed")
+        for err in errors:
+            print(f"- {err}")
+        return 1
+
+    print(f"[OK] validated {len(docs)} docs in {DOC_DIR}")
+    print(f"[OK] unique Doc-ID: {len(doc_ids)}")
+    print(f"[OK] definitions: {len(defs)}, references: {len(refs)}")
+    print(f"[OK] req->task mappings: {len(req_to_task)}")
+    print(f"[OK] req->test mappings: {len(req_to_test)}")
+    if warnings:
+        print(f"[WARN] orphan IDs: {len(warnings)}")
+        for w in warnings:
+            print(f"- {w}")
+    return 0
+
+
+if __name__ == "__main__":
+    sys.exit(main())

scripts/watchdog.sh

@@ -0,0 +1,42 @@
+#!/usr/bin/env bash
+# Simple watchdog for The Ouroboros process.
+
+set -euo pipefail
+
+PID_FILE="${PID_FILE:-data/overnight/app.pid}"
+LOG_FILE="${LOG_FILE:-data/overnight/watchdog.log}"
+CHECK_INTERVAL="${CHECK_INTERVAL:-30}"
+STATUS_EVERY="${STATUS_EVERY:-10}"
+
+mkdir -p "$(dirname "$LOG_FILE")"
+
+log() {
+    printf '%s %s\n' "$(date -u +"%Y-%m-%dT%H:%M:%SZ")" "$1" | tee -a "$LOG_FILE"
+}
+
+if [ ! -f "$PID_FILE" ]; then
+    log "[ERROR] pid file not found: $PID_FILE"
+    exit 1
+fi
+
+PID="$(cat "$PID_FILE")"
+if [ -z "$PID" ]; then
+    log "[ERROR] pid file is empty: $PID_FILE"
+    exit 1
+fi
+
+log "[INFO] watchdog started (pid=$PID, interval=${CHECK_INTERVAL}s)"
+
+count=0
+while true; do
+    if kill -0 "$PID" 2>/dev/null; then
+        count=$((count + 1))
+        if [ $((count % STATUS_EVERY)) -eq 0 ]; then
+            log "[INFO] process alive (pid=$PID)"
+        fi
+    else
+        log "[ERROR] process stopped (pid=$PID)"
+        exit 1
+    fi
+    sleep "$CHECK_INTERVAL"
+done

src/analysis/backtest_cost_guard.py

@@ -0,0 +1,52 @@
+"""Backtest cost/slippage/failure validation guard."""
+
+from __future__ import annotations
+
+from dataclasses import dataclass
+import math
+
+
+@dataclass(frozen=True)
+class BacktestCostModel:
+    commission_bps: float | None = None
+    slippage_bps_by_session: dict[str, float] | None = None
+    failure_rate_by_session: dict[str, float] | None = None
+    unfavorable_fill_required: bool = True
+
+
+def validate_backtest_cost_model(
+    *,
+    model: BacktestCostModel,
+    required_sessions: list[str],
+) -> None:
+    """Raise ValueError when required cost assumptions are missing/invalid."""
+    if (
+        model.commission_bps is None
+        or not math.isfinite(model.commission_bps)
+        or model.commission_bps < 0
+    ):
+        raise ValueError("commission_bps must be provided and >= 0")
+    if not model.unfavorable_fill_required:
+        raise ValueError("unfavorable_fill_required must be True")
+
+    slippage = model.slippage_bps_by_session or {}
+    failure = model.failure_rate_by_session or {}
+
+    missing_slippage = [s for s in required_sessions if s not in slippage]
+    if missing_slippage:
+        raise ValueError(
+            f"missing slippage_bps_by_session for sessions: {', '.join(missing_slippage)}"
+        )
+
+    missing_failure = [s for s in required_sessions if s not in failure]
+    if missing_failure:
+        raise ValueError(
+            f"missing failure_rate_by_session for sessions: {', '.join(missing_failure)}"
+        )
+
+    for sess, bps in slippage.items():
+        if not math.isfinite(bps) or bps < 0:
+            raise ValueError(f"slippage bps must be >= 0 for session={sess}")
+    for sess, rate in failure.items():
+        if not math.isfinite(rate) or rate < 0 or rate > 1:
+            raise ValueError(f"failure rate must be within [0,1] for session={sess}")

src/analysis/backtest_execution_model.py

@@ -0,0 +1,103 @@
+"""Conservative backtest execution model."""
+
+from __future__ import annotations
+
+from dataclasses import dataclass
+import math
+from random import Random
+from typing import Literal
+
+
+OrderSide = Literal["BUY", "SELL"]
+
+
+@dataclass(frozen=True)
+class ExecutionRequest:
+    side: OrderSide
+    session_id: str
+    qty: int
+    reference_price: float
+
+
+@dataclass(frozen=True)
+class ExecutionAssumptions:
+    slippage_bps_by_session: dict[str, float]
+    failure_rate_by_session: dict[str, float]
+    partial_fill_rate_by_session: dict[str, float]
+    partial_fill_min_ratio: float = 0.3
+    partial_fill_max_ratio: float = 0.8
+    seed: int = 0
+
+
+@dataclass(frozen=True)
+class ExecutionResult:
+    status: Literal["FILLED", "PARTIAL", "REJECTED"]
+    filled_qty: int
+    avg_price: float
+    slippage_bps: float
+    reason: str
+
+
+class BacktestExecutionModel:
+    """Execution simulator with conservative unfavorable fill assumptions."""
+
+    def __init__(self, assumptions: ExecutionAssumptions) -> None:
+        self.assumptions = assumptions
+        self._rng = Random(assumptions.seed)
+        if assumptions.partial_fill_min_ratio <= 0 or assumptions.partial_fill_max_ratio > 1:
+            raise ValueError("partial fill ratios must be within (0,1]")
+        if assumptions.partial_fill_min_ratio > assumptions.partial_fill_max_ratio:
+            raise ValueError("partial_fill_min_ratio must be <= partial_fill_max_ratio")
+        for sess, bps in assumptions.slippage_bps_by_session.items():
+            if not math.isfinite(bps) or bps < 0:
+                raise ValueError(f"slippage_bps must be finite and >= 0 for session={sess}")
+        for sess, rate in assumptions.failure_rate_by_session.items():
+            if not math.isfinite(rate) or rate < 0 or rate > 1:
+                raise ValueError(f"failure_rate must be in [0,1] for session={sess}")
+        for sess, rate in assumptions.partial_fill_rate_by_session.items():
+            if not math.isfinite(rate) or rate < 0 or rate > 1:
+                raise ValueError(f"partial_fill_rate must be in [0,1] for session={sess}")
+
+    def simulate(self, request: ExecutionRequest) -> ExecutionResult:
+        if request.qty <= 0:
+            raise ValueError("qty must be positive")
+        if request.reference_price <= 0:
+            raise ValueError("reference_price must be positive")
+
+        slippage_bps = self.assumptions.slippage_bps_by_session.get(request.session_id, 0.0)
+        failure_rate = self.assumptions.failure_rate_by_session.get(request.session_id, 0.0)
+        partial_rate = self.assumptions.partial_fill_rate_by_session.get(request.session_id, 0.0)
+
+        if self._rng.random() < failure_rate:
+            return ExecutionResult(
+                status="REJECTED",
+                filled_qty=0,
+                avg_price=0.0,
+                slippage_bps=slippage_bps,
+                reason="execution_failure",
+            )
+
+        slip_mult = 1.0 + (slippage_bps / 10000.0 if request.side == "BUY" else -slippage_bps / 10000.0)
+        exec_price = request.reference_price * slip_mult
+
+        if self._rng.random() < partial_rate:
+            ratio = self._rng.uniform(
+                self.assumptions.partial_fill_min_ratio,
+                self.assumptions.partial_fill_max_ratio,
+            )
+            filled = max(1, min(request.qty - 1, int(request.qty * ratio)))
+            return ExecutionResult(
+                status="PARTIAL",
+                filled_qty=filled,
+                avg_price=exec_price,
+                slippage_bps=slippage_bps,
+                reason="partial_fill",
+            )
+
+        return ExecutionResult(
+            status="FILLED",
+            filled_qty=request.qty,
+            avg_price=exec_price,
+            slippage_bps=slippage_bps,
+            reason="filled",
+        )

src/analysis/smart_scanner.py

@@ -1,8 +1,4 @@
-"""Smart Volatility Scanner with RSI and volume filters.
-
-Fetches market rankings from KIS API and applies technical filters
-to identify high-probability trading candidates.
-"""
+"""Smart Volatility Scanner with volatility-first market ranking logic."""
 
 from __future__ import annotations
 
@@ -12,7 +8,9 @@ from typing import Any
 
 from src.analysis.volatility import VolatilityAnalyzer
 from src.broker.kis_api import KISBroker
+from src.broker.overseas import OverseasBroker
 from src.config import Settings
+from src.markets.schedule import MarketInfo
 
 logger = logging.getLogger(__name__)
 
@@ -32,19 +30,19 @@ class ScanCandidate:
 
 
 class SmartVolatilityScanner:
-    """Scans market rankings and applies RSI/volume filters.
+    """Scans market rankings and applies volatility-first filters.
 
     Flow:
-    1. Fetch volume rankings from KIS API
-    2. For each ranked stock, fetch daily prices
-    3. Calculate RSI and volume ratio
-    4. Apply filters: volume > VOL_MULTIPLIER AND (RSI < 30 OR RSI > 70)
-    5. Return top N qualified candidates
+    1. Fetch fluctuation rankings as primary universe
+    2. Fetch volume rankings for liquidity bonus
+    3. Score by volatility first, liquidity second
+    4. Return top N qualified candidates
     """
 
     def __init__(
         self,
         broker: KISBroker,
+        overseas_broker: OverseasBroker | None,
         volatility_analyzer: VolatilityAnalyzer,
         settings: Settings,
     ) -> None:
@@ -56,6 +54,7 @@ class SmartVolatilityScanner:
             settings: Application settings
         """
         self.broker = broker
+        self.overseas_broker = overseas_broker
         self.analyzer = volatility_analyzer
         self.settings = settings
 
@@ -67,107 +66,129 @@ class SmartVolatilityScanner:
 
     async def scan(
         self,
+        market: MarketInfo | None = None,
         fallback_stocks: list[str] | None = None,
     ) -> list[ScanCandidate]:
         """Execute smart scan and return qualified candidates.
 
         Args:
+            market: Target market info (domestic vs overseas behavior)
             fallback_stocks: Stock codes to use if ranking API fails
 
         Returns:
             List of ScanCandidate, sorted by score, up to top_n items
         """
-        # Step 1: Fetch rankings
+        if market and not market.is_domestic:
+            return await self._scan_overseas(market, fallback_stocks)
+
+        return await self._scan_domestic(fallback_stocks)
+
+    async def _scan_domestic(
+        self,
+        fallback_stocks: list[str] | None = None,
+    ) -> list[ScanCandidate]:
+        """Scan domestic market using volatility-first ranking + liquidity bonus."""
+        # 1) Primary universe from fluctuation ranking.
         try:
-            rankings = await self.broker.fetch_market_rankings(
-                ranking_type="volume",
-                limit=30,  # Fetch more than needed for filtering
+            fluct_rows = await self.broker.fetch_market_rankings(
+                ranking_type="fluctuation",
+                limit=50,
             )
-            logger.info("Fetched %d stocks from volume rankings", len(rankings))
         except ConnectionError as exc:
-            logger.warning("Ranking API failed, using fallback: %s", exc)
-            if fallback_stocks:
-                # Create minimal ranking data for fallback
-                rankings = [
-                    {
-                        "stock_code": code,
-                        "name": code,
-                        "price": 0,
-                        "volume": 0,
-                        "change_rate": 0,
-                        "volume_increase_rate": 0,
-                    }
-                    for code in fallback_stocks
-                ]
-            else:
-                return []
+            logger.warning("Domestic fluctuation ranking failed: %s", exc)
+            fluct_rows = []
+
+        # 2) Liquidity bonus from volume ranking.
+        try:
+            volume_rows = await self.broker.fetch_market_rankings(
+                ranking_type="volume",
+                limit=50,
+            )
+        except ConnectionError as exc:
+            logger.warning("Domestic volume ranking failed: %s", exc)
+            volume_rows = []
+
+        if not fluct_rows and fallback_stocks:
+            logger.info(
+                "Domestic ranking unavailable; using fallback symbols (%d)",
+                len(fallback_stocks),
+            )
+            fluct_rows = [
+                {
+                    "stock_code": code,
+                    "name": code,
+                    "price": 0.0,
+                    "volume": 0.0,
+                    "change_rate": 0.0,
+                    "volume_increase_rate": 0.0,
+                }
+                for code in fallback_stocks
+            ]
+
+        if not fluct_rows:
+            return []
+
+        volume_rank_bonus: dict[str, float] = {}
+        for idx, row in enumerate(volume_rows):
+            code = _extract_stock_code(row)
+            if not code:
+                continue
+            volume_rank_bonus[code] = max(0.0, 15.0 - idx * 0.3)
 
-        # Step 2: Analyze each stock
         candidates: list[ScanCandidate] = []
-
-        for stock in rankings:
-            stock_code = stock["stock_code"]
+        for stock in fluct_rows:
+            stock_code = _extract_stock_code(stock)
             if not stock_code:
                 continue
 
             try:
-                # Fetch daily prices for RSI calculation
-                daily_prices = await self.broker.get_daily_prices(stock_code, days=20)
+                price = _extract_last_price(stock)
+                change_rate = _extract_change_rate_pct(stock)
+                volume = _extract_volume(stock)
 
-                if len(daily_prices) < 15:  # Need at least 14+1 for RSI
-                    logger.debug("Insufficient price history for %s", stock_code)
+                intraday_range_pct = 0.0
+                volume_ratio = _safe_float(stock.get("volume_increase_rate"), 0.0) / 100.0 + 1.0
+
+                # Use daily chart to refine range/volume when available.
+                daily_prices = await self.broker.get_daily_prices(stock_code, days=2)
+                if daily_prices:
+                    latest = daily_prices[-1]
+                    latest_close = _safe_float(latest.get("close"), default=price)
+                    if price <= 0:
+                        price = latest_close
+                    latest_high = _safe_float(latest.get("high"))
+                    latest_low = _safe_float(latest.get("low"))
+                    if latest_close > 0 and latest_high > 0 and latest_low > 0 and latest_high >= latest_low:
+                        intraday_range_pct = (latest_high - latest_low) / latest_close * 100.0
+                    if volume <= 0:
+                        volume = _safe_float(latest.get("volume"))
+                    if len(daily_prices) >= 2:
+                        prev_day_volume = _safe_float(daily_prices[-2].get("volume"))
+                        if prev_day_volume > 0:
+                            volume_ratio = max(volume_ratio, volume / prev_day_volume)
+
+                volatility_pct = max(abs(change_rate), intraday_range_pct)
+                if price <= 0 or volatility_pct < 0.8:
                     continue
 
-                # Calculate RSI
-                close_prices = [p["close"] for p in daily_prices]
-                rsi = self.analyzer.calculate_rsi(close_prices, period=14)
+                volatility_score = min(volatility_pct / 10.0, 1.0) * 85.0
+                liquidity_score = volume_rank_bonus.get(stock_code, 0.0)
+                score = min(100.0, volatility_score + liquidity_score)
+                signal = "momentum" if change_rate >= 0 else "oversold"
+                implied_rsi = max(0.0, min(100.0, 50.0 + (change_rate * 2.0)))
 
-                # Calculate volume ratio (today vs previous day avg)
-                if len(daily_prices) >= 2:
-                    prev_day_volume = daily_prices[-2]["volume"]
-                    current_volume = stock.get("volume", 0) or daily_prices[-1]["volume"]
-                    volume_ratio = (
-                        current_volume / prev_day_volume if prev_day_volume > 0 else 1.0
-                    )
-                else:
-                    volume_ratio = stock.get("volume_increase_rate", 0) / 100 + 1  # Fallback
-
-                # Apply filters
-                volume_qualified = volume_ratio >= self.vol_multiplier
-                rsi_oversold = rsi < self.rsi_oversold
-                rsi_momentum = rsi > self.rsi_momentum
-
-                if volume_qualified and (rsi_oversold or rsi_momentum):
-                    signal = "oversold" if rsi_oversold else "momentum"
-
-                    # Calculate composite score
-                    # Higher score for: extreme RSI + high volume
-                    rsi_extremity = abs(rsi - 50) / 50  # 0-1 scale
-                    volume_score = min(volume_ratio / 5, 1.0)  # Cap at 5x
-                    score = (rsi_extremity * 0.6 + volume_score * 0.4) * 100
-
-                    candidates.append(
-                        ScanCandidate(
-                            stock_code=stock_code,
-                            name=stock.get("name", stock_code),
-                            price=stock.get("price", daily_prices[-1]["close"]),
-                            volume=current_volume,
-                            volume_ratio=volume_ratio,
-                            rsi=rsi,
-                            signal=signal,
-                            score=score,
-                        )
-                    )
-
-                    logger.info(
-                        "Qualified: %s (%s) RSI=%.1f vol=%.1fx signal=%s score=%.1f",
-                        stock_code,
-                        stock.get("name", ""),
-                        rsi,
-                        volume_ratio,
-                        signal,
-                        score,
+                candidates.append(
+                    ScanCandidate(
+                        stock_code=stock_code,
+                        name=stock.get("name", stock_code),
+                        price=price,
+                        volume=volume,
+                        volume_ratio=max(1.0, volume_ratio, volatility_pct / 2.0),
+                        rsi=implied_rsi,
+                        signal=signal,
+                        score=score,
                     )
+                )
 
             except ConnectionError as exc:
                 logger.warning("Failed to analyze %s: %s", stock_code, exc)
@@ -176,10 +197,171 @@ class SmartVolatilityScanner:
                 logger.error("Unexpected error analyzing %s: %s", stock_code, exc)
                 continue
 
-        # Sort by score and return top N
+        logger.info("Domestic ranking scan found %d candidates", len(candidates))
         candidates.sort(key=lambda c: c.score, reverse=True)
         return candidates[: self.top_n]
 
+    async def _scan_overseas(
+        self,
+        market: MarketInfo,
+        fallback_stocks: list[str] | None = None,
+    ) -> list[ScanCandidate]:
+        """Scan overseas symbols using ranking API first, then fallback universe."""
+        if self.overseas_broker is None:
+            logger.warning(
+                "Overseas scanner unavailable for %s: overseas broker not configured",
+                market.name,
+            )
+            return []
+
+        candidates = await self._scan_overseas_from_rankings(market)
+        if not candidates:
+            candidates = await self._scan_overseas_from_symbols(market, fallback_stocks)
+
+        candidates.sort(key=lambda c: c.score, reverse=True)
+        return candidates[: self.top_n]
+
+    async def _scan_overseas_from_rankings(
+        self,
+        market: MarketInfo,
+    ) -> list[ScanCandidate]:
+        """Build overseas candidates from ranking APIs using volatility-first scoring."""
+        assert self.overseas_broker is not None
+        try:
+            fluct_rows = await self.overseas_broker.fetch_overseas_rankings(
+                exchange_code=market.exchange_code,
+                ranking_type="fluctuation",
+                limit=50,
+            )
+        except Exception as exc:
+            logger.warning(
+                "Overseas fluctuation ranking failed for %s: %s", market.code, exc
+            )
+            fluct_rows = []
+
+        if not fluct_rows:
+            return []
+
+        volume_rank_bonus: dict[str, float] = {}
+        try:
+            volume_rows = await self.overseas_broker.fetch_overseas_rankings(
+                exchange_code=market.exchange_code,
+                ranking_type="volume",
+                limit=50,
+            )
+        except Exception as exc:
+            logger.warning(
+                "Overseas volume ranking failed for %s: %s", market.code, exc
+            )
+            volume_rows = []
+
+        for idx, row in enumerate(volume_rows):
+            code = _extract_stock_code(row)
+            if not code:
+                continue
+            # Top-ranked by traded value/volume gets higher liquidity bonus.
+            volume_rank_bonus[code] = max(0.0, 15.0 - idx * 0.3)
+
+        candidates: list[ScanCandidate] = []
+        for row in fluct_rows:
+            stock_code = _extract_stock_code(row)
+            if not stock_code:
+                continue
+
+            price = _extract_last_price(row)
+            change_rate = _extract_change_rate_pct(row)
+            volume = _extract_volume(row)
+            intraday_range_pct = _extract_intraday_range_pct(row, price)
+            volatility_pct = max(abs(change_rate), intraday_range_pct)
+
+            # Volatility-first filter (not simple gainers/value ranking).
+            if price <= 0 or volatility_pct < 0.8:
+                continue
+
+            volatility_score = min(volatility_pct / 10.0, 1.0) * 85.0
+            liquidity_score = volume_rank_bonus.get(stock_code, 0.0)
+            score = min(100.0, volatility_score + liquidity_score)
+            signal = "momentum" if change_rate >= 0 else "oversold"
+            implied_rsi = max(0.0, min(100.0, 50.0 + (change_rate * 2.0)))
+            candidates.append(
+                ScanCandidate(
+                    stock_code=stock_code,
+                    name=str(row.get("name") or row.get("ovrs_item_name") or stock_code),
+                    price=price,
+                    volume=volume,
+                    volume_ratio=max(1.0, volatility_pct / 2.0),
+                    rsi=implied_rsi,
+                    signal=signal,
+                    score=score,
+                )
+            )
+
+        if candidates:
+            logger.info(
+                "Overseas ranking scan found %d candidates for %s",
+                len(candidates),
+                market.name,
+            )
+        return candidates
+
+    async def _scan_overseas_from_symbols(
+        self,
+        market: MarketInfo,
+        symbols: list[str] | None,
+    ) -> list[ScanCandidate]:
+        """Fallback overseas scan from dynamic symbol universe."""
+        assert self.overseas_broker is not None
+        if not symbols:
+            logger.info("Overseas scanner: no symbol universe for %s", market.name)
+            return []
+
+        logger.info(
+            "Overseas scanner: scanning %d fallback symbols for %s",
+            len(symbols),
+            market.name,
+        )
+        candidates: list[ScanCandidate] = []
+        for stock_code in symbols:
+            try:
+                price_data = await self.overseas_broker.get_overseas_price(
+                    market.exchange_code, stock_code
+                )
+                output = price_data.get("output", {})
+                price = _extract_last_price(output)
+                change_rate = _extract_change_rate_pct(output)
+                volume = _extract_volume(output)
+                intraday_range_pct = _extract_intraday_range_pct(output, price)
+                volatility_pct = max(abs(change_rate), intraday_range_pct)
+
+                if price <= 0 or volatility_pct < 0.8:
+                    continue
+
+                score = min(volatility_pct / 10.0, 1.0) * 100.0
+                signal = "momentum" if change_rate >= 0 else "oversold"
+                implied_rsi = max(0.0, min(100.0, 50.0 + (change_rate * 2.0)))
+                candidates.append(
+                    ScanCandidate(
+                        stock_code=stock_code,
+                        name=stock_code,
+                        price=price,
+                        volume=volume,
+                        volume_ratio=max(1.0, volatility_pct / 2.0),
+                        rsi=implied_rsi,
+                        signal=signal,
+                        score=score,
+                    )
+                )
+            except ConnectionError as exc:
+                logger.warning("Failed to analyze overseas %s: %s", stock_code, exc)
+            except Exception as exc:
+                logger.error("Unexpected error analyzing overseas %s: %s", stock_code, exc)
+        logger.info(
+            "Overseas symbol fallback scan found %d candidates for %s",
+            len(candidates),
+            market.name,
+        )
+        return candidates
+
     def get_stock_codes(self, candidates: list[ScanCandidate]) -> list[str]:
         """Extract stock codes from candidates for watchlist update.
 
@@ -190,3 +372,78 @@ class SmartVolatilityScanner:
             List of stock codes
         """
         return [c.stock_code for c in candidates]
+
+
+def _safe_float(value: Any, default: float = 0.0) -> float:
+    """Convert arbitrary values to float safely."""
+    if value in (None, ""):
+        return default
+    try:
+        return float(value)
+    except (TypeError, ValueError):
+        return default
+
+
+def _extract_stock_code(row: dict[str, Any]) -> str:
+    """Extract normalized stock code from various API schemas."""
+    return (
+        str(
+            row.get("symb")
+            or row.get("ovrs_pdno")
+            or row.get("stock_code")
+            or row.get("pdno")
+            or ""
+        )
+        .strip()
+        .upper()
+    )
+
+
+def _extract_last_price(row: dict[str, Any]) -> float:
+    """Extract last/close-like price from API schema variants."""
+    return _safe_float(
+        row.get("last")
+        or row.get("ovrs_nmix_prpr")
+        or row.get("stck_prpr")
+        or row.get("price")
+        or row.get("close")
+    )
+
+
+def _extract_change_rate_pct(row: dict[str, Any]) -> float:
+    """Extract daily change rate (%) from API schema variants."""
+    return _safe_float(
+        row.get("rate")
+        or row.get("change_rate")
+        or row.get("prdy_ctrt")
+        or row.get("evlu_pfls_rt")
+        or row.get("chg_rt")
+    )
+
+
+def _extract_volume(row: dict[str, Any]) -> float:
+    """Extract volume/traded-amount proxy from schema variants."""
+    return _safe_float(
+        row.get("tvol") or row.get("acml_vol") or row.get("vol") or row.get("volume")
+    )
+
+
+def _extract_intraday_range_pct(row: dict[str, Any], price: float) -> float:
+    """Estimate intraday range percentage from high/low fields."""
+    if price <= 0:
+        return 0.0
+    high = _safe_float(
+        row.get("high")
+        or row.get("ovrs_hgpr")
+        or row.get("stck_hgpr")
+        or row.get("day_hgpr")
+    )
+    low = _safe_float(
+        row.get("low")
+        or row.get("ovrs_lwpr")
+        or row.get("stck_lwpr")
+        or row.get("day_lwpr")
+    )
+    if high <= 0 or low <= 0 or high < low:
+        return 0.0
+    return (high - low) / price * 100.0

src/analysis/triple_barrier.py

@@ -0,0 +1,111 @@
+"""Triple barrier labeler utilities.
+
+Implements first-touch labeling with upper/lower/time barriers.
+"""
+
+from __future__ import annotations
+
+from dataclasses import dataclass
+from typing import Literal, Sequence
+
+
+TieBreakMode = Literal["stop_first", "take_first"]
+
+
+@dataclass(frozen=True)
+class TripleBarrierSpec:
+    take_profit_pct: float
+    stop_loss_pct: float
+    max_holding_bars: int
+    tie_break: TieBreakMode = "stop_first"
+
+
+@dataclass(frozen=True)
+class TripleBarrierLabel:
+    label: int  # +1 take-profit first, -1 stop-loss first, 0 timeout
+    touched: Literal["take_profit", "stop_loss", "time"]
+    touch_bar: int
+    entry_price: float
+    upper_barrier: float
+    lower_barrier: float
+
+
+def label_with_triple_barrier(
+    *,
+    highs: Sequence[float],
+    lows: Sequence[float],
+    closes: Sequence[float],
+    entry_index: int,
+    side: int,
+    spec: TripleBarrierSpec,
+) -> TripleBarrierLabel:
+    """Label one entry using triple-barrier first-touch rule.
+
+    Args:
+        highs/lows/closes: OHLC components with identical length.
+        entry_index: Entry bar index in the sequences.
+        side: +1 for long, -1 for short.
+        spec: Barrier specification.
+    """
+    if side not in {1, -1}:
+        raise ValueError("side must be +1 or -1")
+    if len(highs) != len(lows) or len(highs) != len(closes):
+        raise ValueError("highs, lows, closes lengths must match")
+    if entry_index < 0 or entry_index >= len(closes):
+        raise IndexError("entry_index out of range")
+    if spec.max_holding_bars <= 0:
+        raise ValueError("max_holding_bars must be positive")
+
+    entry_price = float(closes[entry_index])
+    if entry_price <= 0:
+        raise ValueError("entry price must be positive")
+
+    if side == 1:
+        upper = entry_price * (1.0 + spec.take_profit_pct)
+        lower = entry_price * (1.0 - spec.stop_loss_pct)
+    else:
+        # For short side, favorable move is down.
+        upper = entry_price * (1.0 + spec.stop_loss_pct)
+        lower = entry_price * (1.0 - spec.take_profit_pct)
+
+    last_index = min(len(closes) - 1, entry_index + spec.max_holding_bars)
+    for idx in range(entry_index + 1, last_index + 1):
+        h = float(highs[idx])
+        l = float(lows[idx])
+
+        up_touch = h >= upper
+        down_touch = l <= lower
+        if not up_touch and not down_touch:
+            continue
+
+        if up_touch and down_touch:
+            if spec.tie_break == "stop_first":
+                touched = "stop_loss"
+                label = -1
+            else:
+                touched = "take_profit"
+                label = 1
+        elif up_touch:
+            touched = "take_profit" if side == 1 else "stop_loss"
+            label = 1 if side == 1 else -1
+        else:
+            touched = "stop_loss" if side == 1 else "take_profit"
+            label = -1 if side == 1 else 1
+
+        return TripleBarrierLabel(
+            label=label,
+            touched=touched,
+            touch_bar=idx,
+            entry_price=entry_price,
+            upper_barrier=upper,
+            lower_barrier=lower,
+        )
+
+    return TripleBarrierLabel(
+        label=0,
+        touched="time",
+        touch_bar=last_index,
+        entry_price=entry_price,
+        upper_barrier=upper,
+        lower_barrier=lower,
+    )

src/analysis/walk_forward_split.py

@@ -0,0 +1,74 @@
+"""Walk-forward splitter with purge/embargo controls."""
+
+from __future__ import annotations
+
+from dataclasses import dataclass
+
+
+@dataclass(frozen=True)
+class WalkForwardFold:
+    train_indices: list[int]
+    test_indices: list[int]
+
+    @property
+    def train_size(self) -> int:
+        return len(self.train_indices)
+
+    @property
+    def test_size(self) -> int:
+        return len(self.test_indices)
+
+
+def generate_walk_forward_splits(
+    *,
+    n_samples: int,
+    train_size: int,
+    test_size: int,
+    step_size: int | None = None,
+    purge_size: int = 0,
+    embargo_size: int = 0,
+    min_train_size: int = 1,
+) -> list[WalkForwardFold]:
+    """Generate chronological folds with purge/embargo leakage controls."""
+    if n_samples <= 0:
+        raise ValueError("n_samples must be positive")
+    if train_size <= 0 or test_size <= 0:
+        raise ValueError("train_size and test_size must be positive")
+    if purge_size < 0 or embargo_size < 0:
+        raise ValueError("purge_size and embargo_size must be >= 0")
+    if min_train_size <= 0:
+        raise ValueError("min_train_size must be positive")
+
+    step = step_size if step_size is not None else test_size
+    if step <= 0:
+        raise ValueError("step_size must be positive")
+
+    folds: list[WalkForwardFold] = []
+    prev_test_end: int | None = None
+    test_start = train_size + purge_size
+
+    while test_start + test_size <= n_samples:
+        test_end = test_start + test_size - 1
+        train_end = test_start - purge_size - 1
+        if train_end < 0:
+            break
+
+        train_start = max(0, train_end - train_size + 1)
+        train_indices = list(range(train_start, train_end + 1))
+
+        if prev_test_end is not None and embargo_size > 0:
+            emb_from = prev_test_end + 1
+            emb_to = prev_test_end + embargo_size
+            train_indices = [i for i in train_indices if i < emb_from or i > emb_to]
+
+        if len(train_indices) >= min_train_size:
+            folds.append(
+                WalkForwardFold(
+                    train_indices=train_indices,
+                    test_indices=list(range(test_start, test_end + 1)),
+                )
+            )
+            prev_test_end = test_end
+        test_start += step
+
+    return folds

src/brain/gemini_client.py

@@ -346,8 +346,10 @@ class GeminiClient:
         # Validate required fields
         if not all(k in data for k in ("action", "confidence", "rationale")):
             logger.warning("Missing fields in Gemini response — defaulting to HOLD")
+            # Preserve raw text in rationale so prompt_override callers (e.g. pre_market_planner)
+            # can extract their own JSON format from decision.rationale (#245)
             return TradeDecision(
-                action="HOLD", confidence=0, rationale="Missing required fields"
+                action="HOLD", confidence=0, rationale=raw
             )
 
         action = str(data["action"]).upper()
@@ -410,8 +412,10 @@ class GeminiClient:
                     cached=True,
                 )
 
-        # Build optimized prompt
-        if self._enable_optimization:
+        # Build prompt (prompt_override takes priority for callers like pre_market_planner)
+        if "prompt_override" in market_data:
+            prompt = market_data["prompt_override"]
+        elif self._enable_optimization:
             prompt = self._optimizer.build_compressed_prompt(market_data)
         else:
             prompt = await self.build_prompt(market_data, news_sentiment)
@@ -437,6 +441,18 @@ class GeminiClient:
                 action="HOLD", confidence=0, rationale=f"API error: {exc}", token_count=token_count
             )
 
+        # prompt_override callers (e.g. pre_market_planner) expect raw text back,
+        # not a parsed TradeDecision. Skip parse_response to avoid spurious
+        # "Missing fields" warnings and return the raw response directly. (#247)
+        if "prompt_override" in market_data:
+            logger.info(
+                "Gemini raw response received (prompt_override, tokens=%d)", token_count
+            )
+            # Not a trade decision — don't inflate _total_decisions metrics
+            return TradeDecision(
+                action="HOLD", confidence=0, rationale=raw, token_count=token_count
+            )
+
         decision = self.parse_response(raw)
         self._total_decisions += 1
 

src/brain/prompt_optimizer.py

@@ -179,8 +179,8 @@ class PromptOptimizer:
             # Minimal instructions
             prompt = (
                 f"{market_name} trader. Analyze:\n{data_str}\n\n"
-                'Return JSON: {"act":"BUY"|"SELL"|"HOLD","conf":<0-100>,"reason":"<text>"}\n'
-                "Rules: act=BUY/SELL/HOLD, conf=0-100, reason=concise. No markdown."
+                'Return JSON: {"action":"BUY"|"SELL"|"HOLD","confidence":<0-100>,"rationale":"<text>"}\n'
+                "Rules: action=BUY/SELL/HOLD, confidence=0-100, rationale=concise. No markdown."
             )
         else:
             # Data only (for cached contexts where instructions are known)

src/broker/kis_api.py

@@ -8,7 +8,7 @@ from __future__ import annotations
 import asyncio
 import logging
 import ssl
-from typing import Any
+from typing import Any, cast
 
 import aiohttp
 
@@ -20,6 +20,39 @@ _KIS_VTS_HOST = "openapivts.koreainvestment.com"
 logger = logging.getLogger(__name__)
 
 
+def kr_tick_unit(price: float) -> int:
+    """Return KRX tick size for the given price level.
+
+    KRX price tick rules (domestic stocks):
+        price < 2,000        →   1원
+        2,000  ≤ price < 5,000     →   5원
+        5,000  ≤ price < 20,000    →  10원
+        20,000 ≤ price < 50,000    →  50원
+        50,000 ≤ price < 200,000   → 100원
+        200,000 ≤ price < 500,000  → 500원
+        500,000 ≤ price            → 1,000원
+    """
+    if price < 2_000:
+        return 1
+    if price < 5_000:
+        return 5
+    if price < 20_000:
+        return 10
+    if price < 50_000:
+        return 50
+    if price < 200_000:
+        return 100
+    if price < 500_000:
+        return 500
+    return 1_000
+
+
+def kr_round_down(price: float) -> int:
+    """Round *down* price to the nearest KRX tick unit."""
+    tick = kr_tick_unit(price)
+    return int(price // tick * tick)
+
+
 class LeakyBucket:
     """Simple leaky-bucket rate limiter for async code."""
 
@@ -104,12 +137,14 @@ class KISBroker:
             time_since_last_attempt = now - self._last_refresh_attempt
             if time_since_last_attempt < self._refresh_cooldown:
                 remaining = self._refresh_cooldown - time_since_last_attempt
-                error_msg = (
-                    f"Token refresh on cooldown. "
-                    f"Retry in {remaining:.1f}s (KIS allows 1/minute)"
+                # Do not fail fast here. If token is unavailable, upstream calls
+                # will all fail for up to a minute and scanning returns no trades.
+                logger.warning(
+                    "Token refresh on cooldown. Waiting %.1fs before retry (KIS allows 1/minute)",
+                    remaining,
                 )
-                logger.warning(error_msg)
-                raise ConnectionError(error_msg)
+                await asyncio.sleep(remaining)
+                now = asyncio.get_event_loop().time()
 
             logger.info("Refreshing KIS access token")
             self._last_refresh_attempt = now
@@ -196,12 +231,64 @@ class KISBroker:
         except (TimeoutError, aiohttp.ClientError) as exc:
             raise ConnectionError(f"Network error fetching orderbook: {exc}") from exc
 
+    async def get_current_price(
+        self, stock_code: str
+    ) -> tuple[float, float, float]:
+        """Fetch current price data for a domestic stock.
+
+        Uses the ``inquire-price`` API (FHKST01010100), which works in both
+        real and VTS environments and returns the actual last-traded price.
+
+        Returns:
+            (current_price, prdy_ctrt, frgn_ntby_qty)
+            - current_price: Last traded price in KRW.
+            - prdy_ctrt: Day change rate (%).
+            - frgn_ntby_qty: Foreigner net buy quantity.
+        """
+        await self._rate_limiter.acquire()
+        session = self._get_session()
+
+        headers = await self._auth_headers("FHKST01010100")
+        params = {
+            "FID_COND_MRKT_DIV_CODE": "J",
+            "FID_INPUT_ISCD": stock_code,
+        }
+        url = f"{self._base_url}/uapi/domestic-stock/v1/quotations/inquire-price"
+
+        def _f(val: str | None) -> float:
+            try:
+                return float(val or "0")
+            except ValueError:
+                return 0.0
+
+        try:
+            async with session.get(url, headers=headers, params=params) as resp:
+                if resp.status != 200:
+                    text = await resp.text()
+                    raise ConnectionError(
+                        f"get_current_price failed ({resp.status}): {text}"
+                    )
+                data = await resp.json()
+                out = data.get("output", {})
+                return (
+                    _f(out.get("stck_prpr")),
+                    _f(out.get("prdy_ctrt")),
+                    _f(out.get("frgn_ntby_qty")),
+                )
+        except (TimeoutError, aiohttp.ClientError) as exc:
+            raise ConnectionError(
+                f"Network error fetching current price: {exc}"
+            ) from exc
+
     async def get_balance(self) -> dict[str, Any]:
         """Fetch current account balance and holdings."""
         await self._rate_limiter.acquire()
         session = self._get_session()
 
-        headers = await self._auth_headers("VTTC8434R")  # 모의투자 잔고조회
+        # TR_ID: 실전 TTTC8434R, 모의 VTTC8434R
+        # Source: 한국투자증권 오픈API 전체문서 (20260221) — '국내주식 잔고조회' 시트
+        tr_id = "TTTC8434R" if self._settings.MODE == "live" else "VTTC8434R"
+        headers = await self._auth_headers(tr_id)
         params = {
             "CANO": self._account_no,
             "ACNT_PRDT_CD": self._product_cd,
@@ -246,14 +333,30 @@ class KISBroker:
         await self._rate_limiter.acquire()
         session = self._get_session()
 
-        tr_id = "VTTC0802U" if order_type == "BUY" else "VTTC0801U"
+        # TR_ID: 실전 BUY=TTTC0012U SELL=TTTC0011U, 모의 BUY=VTTC0012U SELL=VTTC0011U
+        # Source: 한국투자증권 오픈API 전체문서 (20260221) — '주식주문(현금)' 시트
+        # ※ TTTC0802U/VTTC0802U는 미수매수(증거금40% 계좌 전용) — 현금주문에 사용 금지
+        if self._settings.MODE == "live":
+            tr_id = "TTTC0012U" if order_type == "BUY" else "TTTC0011U"
+        else:
+            tr_id = "VTTC0012U" if order_type == "BUY" else "VTTC0011U"
+
+        # KRX requires limit orders to be rounded down to the tick unit.
+        # ORD_DVSN: "00"=지정가, "01"=시장가
+        if price > 0:
+            ord_dvsn = "00"  # 지정가
+            ord_price = kr_round_down(price)
+        else:
+            ord_dvsn = "01"  # 시장가
+            ord_price = 0
+
         body = {
             "CANO": self._account_no,
             "ACNT_PRDT_CD": self._product_cd,
             "PDNO": stock_code,
-            "ORD_DVSN": "01" if price > 0 else "06",  # 01=지정가, 06=시장가
+            "ORD_DVSN": ord_dvsn,
             "ORD_QTY": str(quantity),
-            "ORD_UNPR": str(price),
+            "ORD_UNPR": str(ord_price),
         }
 
         hash_key = await self._get_hash_key(body)
@@ -302,26 +405,46 @@ class KISBroker:
         await self._rate_limiter.acquire()
         session = self._get_session()
 
-        # TR_ID for volume ranking
-        tr_id = "FHPST01710000" if ranking_type == "volume" else "FHPST01710100"
+        if ranking_type == "volume":
+            # 거래량순위: FHPST01710000 / /quotations/volume-rank
+            tr_id = "FHPST01710000"
+            url = f"{self._base_url}/uapi/domestic-stock/v1/quotations/volume-rank"
+            params: dict[str, str] = {
+                "FID_COND_MRKT_DIV_CODE": "J",
+                "FID_COND_SCR_DIV_CODE": "20171",
+                "FID_INPUT_ISCD": "0000",
+                "FID_DIV_CLS_CODE": "0",
+                "FID_BLNG_CLS_CODE": "0",
+                "FID_TRGT_CLS_CODE": "111111111",
+                "FID_TRGT_EXLS_CLS_CODE": "0000000000",
+                "FID_INPUT_PRICE_1": "0",
+                "FID_INPUT_PRICE_2": "0",
+                "FID_VOL_CNT": "0",
+                "FID_INPUT_DATE_1": "",
+            }
+        else:
+            # 등락률순위: FHPST01700000 / /ranking/fluctuation (소문자 파라미터)
+            tr_id = "FHPST01700000"
+            url = f"{self._base_url}/uapi/domestic-stock/v1/ranking/fluctuation"
+            params = {
+                "fid_cond_mrkt_div_code": "J",
+                "fid_cond_scr_div_code": "20170",
+                "fid_input_iscd": "0000",
+                "fid_rank_sort_cls_code": "0",
+                "fid_input_cnt_1": str(limit),
+                "fid_prc_cls_code": "0",
+                "fid_input_price_1": "0",
+                "fid_input_price_2": "0",
+                "fid_vol_cnt": "0",
+                "fid_trgt_cls_code": "0",
+                "fid_trgt_exls_cls_code": "0",
+                "fid_div_cls_code": "0",
+                "fid_rsfl_rate1": "0",
+                "fid_rsfl_rate2": "0",
+            }
+
         headers = await self._auth_headers(tr_id)
 
-        params = {
-            "FID_COND_MRKT_DIV_CODE": "J",  # Stock/ETF/ETN
-            "FID_COND_SCR_DIV_CODE": "20001",  # Volume surge
-            "FID_INPUT_ISCD": "0000",  # All stocks
-            "FID_DIV_CLS_CODE": "0",  # All types
-            "FID_BLNG_CLS_CODE": "0",
-            "FID_TRGT_CLS_CODE": "111111111",
-            "FID_TRGT_EXLS_CLS_CODE": "000000",
-            "FID_INPUT_PRICE_1": "0",
-            "FID_INPUT_PRICE_2": "0",
-            "FID_VOL_CNT": "0",
-            "FID_INPUT_DATE_1": "",
-        }
-
-        url = f"{self._base_url}/uapi/domestic-stock/v1/quotations/volume-rank"
-
         try:
             async with session.get(url, headers=headers, params=params) as resp:
                 if resp.status != 200:
@@ -343,7 +466,7 @@ class KISBroker:
             rankings = []
             for item in data.get("output", [])[:limit]:
                 rankings.append({
-                    "stock_code": item.get("mksc_shrn_iscd", ""),
+                    "stock_code": item.get("stck_shrn_iscd") or item.get("mksc_shrn_iscd", ""),
                     "name": item.get("hts_kor_isnm", ""),
                     "price": _safe_float(item.get("stck_prpr", "0")),
                     "volume": _safe_float(item.get("acml_vol", "0")),
@@ -355,6 +478,112 @@ class KISBroker:
         except (TimeoutError, aiohttp.ClientError) as exc:
             raise ConnectionError(f"Network error fetching rankings: {exc}") from exc
 
+    async def get_domestic_pending_orders(self) -> list[dict[str, Any]]:
+        """Fetch unfilled (pending) domestic limit orders.
+
+        The KIS pending-orders API (TTTC0084R) is unsupported in paper (VTS)
+        mode, so this method returns an empty list immediately when MODE is
+        not "live".
+
+        Returns:
+            List of pending order dicts from the KIS ``output`` field.
+            Each dict includes keys such as ``odno``, ``orgn_odno``,
+            ``ord_gno_brno``, ``psbl_qty``, ``sll_buy_dvsn_cd``, ``pdno``.
+        """
+        if self._settings.MODE != "live":
+            logger.debug(
+                "get_domestic_pending_orders: paper mode — TTTC0084R unsupported, returning []"
+            )
+            return []
+
+        await self._rate_limiter.acquire()
+        session = self._get_session()
+
+        # TR_ID: 실전 TTTC0084R (모의 미지원)
+        # Source: 한국투자증권 오픈API 전체문서 (20260221) — '주식 미체결조회' 시트
+        headers = await self._auth_headers("TTTC0084R")
+        params = {
+            "CANO": self._account_no,
+            "ACNT_PRDT_CD": self._product_cd,
+            "INQR_DVSN_1": "0",
+            "INQR_DVSN_2": "0",
+            "CTX_AREA_FK100": "",
+            "CTX_AREA_NK100": "",
+        }
+        url = f"{self._base_url}/uapi/domestic-stock/v1/trading/inquire-psbl-rvsecncl"
+
+        try:
+            async with session.get(url, headers=headers, params=params) as resp:
+                if resp.status != 200:
+                    text = await resp.text()
+                    raise ConnectionError(
+                        f"get_domestic_pending_orders failed ({resp.status}): {text}"
+                    )
+                data = await resp.json()
+                return data.get("output", []) or []
+        except (TimeoutError, aiohttp.ClientError) as exc:
+            raise ConnectionError(
+                f"Network error fetching domestic pending orders: {exc}"
+            ) from exc
+
+    async def cancel_domestic_order(
+        self,
+        stock_code: str,
+        orgn_odno: str,
+        krx_fwdg_ord_orgno: str,
+        qty: int,
+    ) -> dict[str, Any]:
+        """Cancel an unfilled domestic limit order.
+
+        Args:
+            stock_code: 6-digit domestic stock code (``pdno``).
+            orgn_odno: Original order number from pending-orders response
+                (``orgn_odno`` field).
+            krx_fwdg_ord_orgno: KRX forwarding order branch number from
+                pending-orders response (``ord_gno_brno`` field).
+            qty: Quantity to cancel (use ``psbl_qty`` from pending order).
+
+        Returns:
+            Raw KIS API response dict (check ``rt_cd == "0"`` for success).
+        """
+        await self._rate_limiter.acquire()
+        session = self._get_session()
+
+        # TR_ID: 실전 TTTC0013U, 모의 VTTC0013U
+        # Source: 한국투자증권 오픈API 전체문서 (20260221) — '주식주문(정정취소)' 시트
+        tr_id = "TTTC0013U" if self._settings.MODE == "live" else "VTTC0013U"
+
+        body = {
+            "CANO": self._account_no,
+            "ACNT_PRDT_CD": self._product_cd,
+            "KRX_FWDG_ORD_ORGNO": krx_fwdg_ord_orgno,
+            "ORGN_ODNO": orgn_odno,
+            "ORD_DVSN": "00",
+            "ORD_QTY": str(qty),
+            "ORD_UNPR": "0",
+            "RVSE_CNCL_DVSN_CD": "02",
+            "QTY_ALL_ORD_YN": "Y",
+        }
+
+        hash_key = await self._get_hash_key(body)
+        headers = await self._auth_headers(tr_id)
+        headers["hashkey"] = hash_key
+
+        url = f"{self._base_url}/uapi/domestic-stock/v1/trading/order-rvsecncl"
+
+        try:
+            async with session.post(url, headers=headers, json=body) as resp:
+                if resp.status != 200:
+                    text = await resp.text()
+                    raise ConnectionError(
+                        f"cancel_domestic_order failed ({resp.status}): {text}"
+                    )
+                return cast(dict[str, Any], await resp.json())
+        except (TimeoutError, aiohttp.ClientError) as exc:
+            raise ConnectionError(
+                f"Network error cancelling domestic order: {exc}"
+            ) from exc
+
     async def get_daily_prices(
         self,
         stock_code: str,

src/broker/overseas.py

@@ -12,6 +12,38 @@ from src.broker.kis_api import KISBroker
 logger = logging.getLogger(__name__)
 
 
+# Ranking API uses different exchange codes than order/quote APIs.
+_RANKING_EXCHANGE_MAP: dict[str, str] = {
+    "NASD": "NAS",
+    "NYSE": "NYS",
+    "AMEX": "AMS",
+    "SEHK": "HKS",
+    "SHAA": "SHS",
+    "SZAA": "SZS",
+    "HSX": "HSX",
+    "HNX": "HNX",
+    "TSE": "TSE",
+}
+
+# Price inquiry API (HHDFS00000300) uses the same short exchange codes as rankings.
+# NASD → NAS, NYSE → NYS, AMEX → AMS (confirmed: AMEX returns empty, AMS returns price).
+_PRICE_EXCHANGE_MAP: dict[str, str] = _RANKING_EXCHANGE_MAP
+
+# Cancel order TR_IDs per exchange code — (live_tr_id, paper_tr_id).
+# Source: 한국투자증권 오픈API 전체문서 (20260221) — '해외주식 주문취소' 시트
+_CANCEL_TR_ID_MAP: dict[str, tuple[str, str]] = {
+    "NASD": ("TTTT1004U", "VTTT1004U"),
+    "NYSE": ("TTTT1004U", "VTTT1004U"),
+    "AMEX": ("TTTT1004U", "VTTT1004U"),
+    "SEHK": ("TTTS1003U", "VTTS1003U"),
+    "TSE":  ("TTTS0309U", "VTTS0309U"),
+    "SHAA": ("TTTS0302U", "VTTS0302U"),
+    "SZAA": ("TTTS0306U", "VTTS0306U"),
+    "HNX":  ("TTTS0312U", "VTTS0312U"),
+    "HSX":  ("TTTS0312U", "VTTS0312U"),
+}
+
+
 class OverseasBroker:
     """KIS Overseas Stock API wrapper that reuses KISBroker infrastructure."""
 
@@ -44,9 +76,11 @@ class OverseasBroker:
         session = self._broker._get_session()
 
         headers = await self._broker._auth_headers("HHDFS00000300")
+        # Map internal exchange codes to the short form expected by the price API.
+        price_excd = _PRICE_EXCHANGE_MAP.get(exchange_code, exchange_code)
         params = {
             "AUTH": "",
-            "EXCD": exchange_code,
+            "EXCD": price_excd,
             "SYMB": stock_code,
         }
         url = f"{self._broker._base_url}/uapi/overseas-price/v1/quotations/price"
@@ -64,6 +98,83 @@ class OverseasBroker:
                 f"Network error fetching overseas price: {exc}"
             ) from exc
 
+    async def fetch_overseas_rankings(
+        self,
+        exchange_code: str,
+        ranking_type: str = "fluctuation",
+        limit: int = 30,
+    ) -> list[dict[str, Any]]:
+        """Fetch overseas rankings (price change or volume surge).
+
+        Ranking API specs may differ by account/product. Endpoint paths and
+        TR_IDs are configurable via settings and can be overridden in .env.
+        """
+        if not self._broker._settings.OVERSEAS_RANKING_ENABLED:
+            return []
+
+        await self._broker._rate_limiter.acquire()
+        session = self._broker._get_session()
+
+        ranking_excd = _RANKING_EXCHANGE_MAP.get(exchange_code, exchange_code)
+
+        if ranking_type == "volume":
+            tr_id = self._broker._settings.OVERSEAS_RANKING_VOLUME_TR_ID
+            path = self._broker._settings.OVERSEAS_RANKING_VOLUME_PATH
+            params: dict[str, str] = {
+                "KEYB": "",  # NEXT KEY BUFF — Required, 공백
+                "AUTH": "",
+                "EXCD": ranking_excd,
+                "MIXN": "0",
+                "VOL_RANG": "0",
+            }
+        else:
+            tr_id = self._broker._settings.OVERSEAS_RANKING_FLUCT_TR_ID
+            path = self._broker._settings.OVERSEAS_RANKING_FLUCT_PATH
+            params = {
+                "KEYB": "",  # NEXT KEY BUFF — Required, 공백
+                "AUTH": "",
+                "EXCD": ranking_excd,
+                "NDAY": "0",
+                "GUBN": "1",  # 0=하락율, 1=상승율 — 변동성 스캐너는 급등 종목 우선
+                "VOL_RANG": "0",
+            }
+
+        headers = await self._broker._auth_headers(tr_id)
+        url = f"{self._broker._base_url}{path}"
+
+        try:
+            async with session.get(url, headers=headers, params=params) as resp:
+                if resp.status != 200:
+                    text = await resp.text()
+                    if resp.status == 404:
+                        logger.warning(
+                            "Overseas ranking endpoint unavailable (404) for %s/%s; "
+                            "using symbol fallback scan",
+                            exchange_code,
+                            ranking_type,
+                        )
+                        return []
+                    raise ConnectionError(
+                        f"fetch_overseas_rankings failed ({resp.status}): {text}"
+                    )
+
+                data = await resp.json()
+                rows = self._extract_ranking_rows(data)
+                if rows:
+                    return rows[:limit]
+
+                logger.debug(
+                    "Overseas ranking returned empty for %s/%s (keys=%s)",
+                    exchange_code,
+                    ranking_type,
+                    list(data.keys()),
+                )
+                return []
+        except (TimeoutError, aiohttp.ClientError) as exc:
+            raise ConnectionError(
+                f"Network error fetching overseas rankings: {exc}"
+            ) from exc
+
     async def get_overseas_balance(self, exchange_code: str) -> dict[str, Any]:
         """
         Fetch overseas account balance.
@@ -80,8 +191,12 @@ class OverseasBroker:
         await self._broker._rate_limiter.acquire()
         session = self._broker._get_session()
 
-        # Virtual trading TR_ID for overseas balance inquiry
-        headers = await self._broker._auth_headers("VTTS3012R")
+        # TR_ID: 실전 TTTS3012R, 모의 VTTS3012R
+        # Source: 한국투자증권 오픈API 전체문서 (20260221) — '해외주식 잔고조회' 시트
+        balance_tr_id = (
+            "TTTS3012R" if self._broker._settings.MODE == "live" else "VTTS3012R"
+        )
+        headers = await self._broker._auth_headers(balance_tr_id)
         params = {
             "CANO": self._broker._account_no,
             "ACNT_PRDT_CD": self._broker._product_cd,
@@ -107,6 +222,59 @@ class OverseasBroker:
                 f"Network error fetching overseas balance: {exc}"
             ) from exc
 
+    async def get_overseas_buying_power(
+        self,
+        exchange_code: str,
+        stock_code: str,
+        price: float,
+    ) -> dict[str, Any]:
+        """
+        Fetch overseas buying power for a specific stock and price.
+
+        Args:
+            exchange_code: Exchange code (e.g., "NASD", "NYSE")
+            stock_code: Stock ticker symbol
+            price: Current stock price (used for quantity calculation)
+
+        Returns:
+            API response; key field: output.ord_psbl_frcr_amt (주문가능외화금액)
+
+        Raises:
+            ConnectionError: On network or API errors
+        """
+        await self._broker._rate_limiter.acquire()
+        session = self._broker._get_session()
+
+        # TR_ID: 실전 TTTS3007R, 모의 VTTS3007R
+        # Source: 한국투자증권 오픈API 전체문서 (20260221) — '해외주식 매수가능금액조회' 시트
+        ps_tr_id = (
+            "TTTS3007R" if self._broker._settings.MODE == "live" else "VTTS3007R"
+        )
+        headers = await self._broker._auth_headers(ps_tr_id)
+        params = {
+            "CANO": self._broker._account_no,
+            "ACNT_PRDT_CD": self._broker._product_cd,
+            "OVRS_EXCG_CD": exchange_code,
+            "OVRS_ORD_UNPR": f"{price:.2f}",
+            "ITEM_CD": stock_code,
+        }
+        url = (
+            f"{self._broker._base_url}/uapi/overseas-stock/v1/trading/inquire-psamount"
+        )
+
+        try:
+            async with session.get(url, headers=headers, params=params) as resp:
+                if resp.status != 200:
+                    text = await resp.text()
+                    raise ConnectionError(
+                        f"get_overseas_buying_power failed ({resp.status}): {text}"
+                    )
+                return await resp.json()
+        except (TimeoutError, aiohttp.ClientError) as exc:
+            raise ConnectionError(
+                f"Network error fetching overseas buying power: {exc}"
+            ) from exc
+
     async def send_overseas_order(
         self,
         exchange_code: str,
@@ -134,8 +302,12 @@ class OverseasBroker:
         await self._broker._rate_limiter.acquire()
         session = self._broker._get_session()
 
-        # Virtual trading TR_IDs for overseas orders
-        tr_id = "VTTT1002U" if order_type == "BUY" else "VTTT1006U"
+        # TR_ID: 실전 BUY=TTTT1002U SELL=TTTT1006U, 모의 BUY=VTTT1002U SELL=VTTT1001U
+        # Source: 한국투자증권 오픈API 전체문서 (20260221) — '해외주식 주문' 시트
+        if self._broker._settings.MODE == "live":
+            tr_id = "TTTT1002U" if order_type == "BUY" else "TTTT1006U"
+        else:
+            tr_id = "VTTT1002U" if order_type == "BUY" else "VTTT1001U"
 
         body = {
             "CANO": self._broker._account_no,
@@ -162,20 +334,158 @@ class OverseasBroker:
                         f"send_overseas_order failed ({resp.status}): {text}"
                     )
                 data = await resp.json()
-                logger.info(
-                    "Overseas order submitted",
-                    extra={
-                        "exchange": exchange_code,
-                        "stock_code": stock_code,
-                        "action": order_type,
-                    },
-                )
+                rt_cd = data.get("rt_cd", "")
+                msg1 = data.get("msg1", "")
+                if rt_cd == "0":
+                    logger.info(
+                        "Overseas order submitted",
+                        extra={
+                            "exchange": exchange_code,
+                            "stock_code": stock_code,
+                            "action": order_type,
+                        },
+                    )
+                else:
+                    logger.warning(
+                        "Overseas order rejected (rt_cd=%s): %s [%s %s %s qty=%d]",
+                        rt_cd,
+                        msg1,
+                        order_type,
+                        stock_code,
+                        exchange_code,
+                        quantity,
+                    )
                 return data
         except (TimeoutError, aiohttp.ClientError) as exc:
             raise ConnectionError(
                 f"Network error sending overseas order: {exc}"
             ) from exc
 
+    async def get_overseas_pending_orders(
+        self, exchange_code: str
+    ) -> list[dict[str, Any]]:
+        """Fetch unfilled (pending) overseas orders for a given exchange.
+
+        Args:
+            exchange_code: Exchange code (e.g., "NASD", "SEHK").
+                For US markets, NASD returns all US pending orders (NASD/NYSE/AMEX).
+
+        Returns:
+            List of pending order dicts with fields: odno, pdno, sll_buy_dvsn_cd,
+            ft_ord_qty, nccs_qty, ft_ord_unpr3, ovrs_excg_cd.
+            Always returns [] in paper mode (TTTS3018R is live-only).
+
+        Raises:
+            ConnectionError: On network or API errors (live mode only).
+        """
+        if self._broker._settings.MODE != "live":
+            logger.debug(
+                "Pending orders API (TTTS3018R) not supported in paper mode; returning []"
+            )
+            return []
+
+        await self._broker._rate_limiter.acquire()
+        session = self._broker._get_session()
+
+        # TTTS3018R: 해외주식 미체결내역조회 (실전 전용)
+        # Source: 한국투자증권 오픈API 전체문서 (20260221) — '해외주식 미체결조회' 시트
+        headers = await self._broker._auth_headers("TTTS3018R")
+        params = {
+            "CANO": self._broker._account_no,
+            "ACNT_PRDT_CD": self._broker._product_cd,
+            "OVRS_EXCG_CD": exchange_code,
+            "SORT_SQN": "DS",
+            "CTX_AREA_FK200": "",
+            "CTX_AREA_NK200": "",
+        }
+        url = (
+            f"{self._broker._base_url}/uapi/overseas-stock/v1/trading/inquire-nccs"
+        )
+
+        try:
+            async with session.get(url, headers=headers, params=params) as resp:
+                if resp.status != 200:
+                    text = await resp.text()
+                    raise ConnectionError(
+                        f"get_overseas_pending_orders failed ({resp.status}): {text}"
+                    )
+                data = await resp.json()
+                output = data.get("output", [])
+                if isinstance(output, list):
+                    return output
+                return []
+        except (TimeoutError, aiohttp.ClientError) as exc:
+            raise ConnectionError(
+                f"Network error fetching pending orders: {exc}"
+            ) from exc
+
+    async def cancel_overseas_order(
+        self,
+        exchange_code: str,
+        stock_code: str,
+        odno: str,
+        qty: int,
+    ) -> dict[str, Any]:
+        """Cancel an overseas limit order.
+
+        Args:
+            exchange_code: Exchange code (e.g., "NASD", "SEHK").
+            stock_code: Stock ticker symbol.
+            odno: Original order number to cancel.
+            qty: Unfilled quantity to cancel.
+
+        Returns:
+            API response dict containing rt_cd and msg1.
+
+        Raises:
+            ValueError: If exchange_code has no cancel TR_ID mapping.
+            ConnectionError: On network or API errors.
+        """
+        tr_ids = _CANCEL_TR_ID_MAP.get(exchange_code)
+        if tr_ids is None:
+            raise ValueError(f"No cancel TR_ID mapping for exchange: {exchange_code}")
+        live_tr_id, paper_tr_id = tr_ids
+        tr_id = live_tr_id if self._broker._settings.MODE == "live" else paper_tr_id
+
+        await self._broker._rate_limiter.acquire()
+        session = self._broker._get_session()
+
+        # RVSE_CNCL_DVSN_CD="02" means cancel (not revision).
+        # OVRS_ORD_UNPR must be "0" for cancellations.
+        # Source: 한국투자증권 오픈API 전체문서 (20260221) — '해외주식 정정취소주문' 시트
+        body = {
+            "CANO": self._broker._account_no,
+            "ACNT_PRDT_CD": self._broker._product_cd,
+            "OVRS_EXCG_CD": exchange_code,
+            "PDNO": stock_code,
+            "ORGN_ODNO": odno,
+            "RVSE_CNCL_DVSN_CD": "02",
+            "ORD_QTY": str(qty),
+            "OVRS_ORD_UNPR": "0",
+            "ORD_SVR_DVSN_CD": "0",
+        }
+
+        hash_key = await self._broker._get_hash_key(body)
+        headers = await self._broker._auth_headers(tr_id)
+        headers["hashkey"] = hash_key
+
+        url = (
+            f"{self._broker._base_url}/uapi/overseas-stock/v1/trading/order-rvsecncl"
+        )
+
+        try:
+            async with session.post(url, headers=headers, json=body) as resp:
+                if resp.status != 200:
+                    text = await resp.text()
+                    raise ConnectionError(
+                        f"cancel_overseas_order failed ({resp.status}): {text}"
+                    )
+                return await resp.json()
+        except (TimeoutError, aiohttp.ClientError) as exc:
+            raise ConnectionError(
+                f"Network error cancelling overseas order: {exc}"
+            ) from exc
+
     def _get_currency_code(self, exchange_code: str) -> str:
         """
         Map exchange code to currency code.
@@ -198,3 +508,11 @@ class OverseasBroker:
             "HSX": "VND",
         }
         return currency_map.get(exchange_code, "USD")
+
+    def _extract_ranking_rows(self, data: dict[str, Any]) -> list[dict[str, Any]]:
+        """Extract list rows from ranking response across schema variants."""
+        candidates = [data.get("output"), data.get("output1"), data.get("output2")]
+        for value in candidates:
+            if isinstance(value, list):
+                return [row for row in value if isinstance(row, dict)]
+        return []

src/config.py

@@ -13,11 +13,11 @@ class Settings(BaseSettings):
     KIS_APP_KEY: str
     KIS_APP_SECRET: str
     KIS_ACCOUNT_NO: str  # format: "XXXXXXXX-XX"
-    KIS_BASE_URL: str = "https://openapivts.koreainvestment.com:9443"
+    KIS_BASE_URL: str = "https://openapivts.koreainvestment.com:29443"
 
     # Google Gemini
     GEMINI_API_KEY: str
-    GEMINI_MODEL: str = "gemini-pro"
+    GEMINI_MODEL: str = "gemini-2.0-flash"
 
     # External Data APIs (optional — for data-driven decisions)
     NEWS_API_KEY: str | None = None
@@ -38,6 +38,11 @@ class Settings(BaseSettings):
     RSI_MOMENTUM_THRESHOLD: int = Field(default=70, ge=50, le=100)
     VOL_MULTIPLIER: float = Field(default=2.0, gt=1.0, le=10.0)
     SCANNER_TOP_N: int = Field(default=3, ge=1, le=10)
+    POSITION_SIZING_ENABLED: bool = True
+    POSITION_BASE_ALLOCATION_PCT: float = Field(default=5.0, gt=0.0, le=30.0)
+    POSITION_MIN_ALLOCATION_PCT: float = Field(default=1.0, gt=0.0, le=20.0)
+    POSITION_MAX_ALLOCATION_PCT: float = Field(default=10.0, gt=0.0, le=50.0)
+    POSITION_VOLATILITY_TARGET_SCORE: float = Field(default=50.0, gt=0.0, le=100.0)
 
     # Database
     DB_PATH: str = "data/trade_logs.db"
@@ -50,10 +55,19 @@ class Settings(BaseSettings):
     # Trading mode
     MODE: str = Field(default="paper", pattern="^(paper|live)$")
 
+    # Simulated USD cash for VTS (paper) overseas trading.
+    # KIS VTS overseas balance API returns errors for most accounts.
+    # This value is used as a fallback when the balance API returns 0 in paper mode.
+    PAPER_OVERSEAS_CASH: float = Field(default=50000.0, ge=0.0)
+    USD_BUFFER_MIN: float = Field(default=1000.0, ge=0.0)
+
     # Trading frequency mode (daily = batch API calls, realtime = per-stock calls)
     TRADE_MODE: str = Field(default="daily", pattern="^(daily|realtime)$")
     DAILY_SESSIONS: int = Field(default=4, ge=1, le=10)
     SESSION_INTERVAL_HOURS: int = Field(default=6, ge=1, le=24)
+    ORDER_BLACKOUT_ENABLED: bool = True
+    ORDER_BLACKOUT_WINDOWS_KST: str = "23:30-00:10"
+    ORDER_BLACKOUT_QUEUE_MAX: int = Field(default=500, ge=10, le=5000)
 
     # Pre-Market Planner
     PRE_MARKET_MINUTES: int = Field(default=30, ge=10, le=120)
@@ -83,6 +97,33 @@ class Settings(BaseSettings):
     TELEGRAM_COMMANDS_ENABLED: bool = True
     TELEGRAM_POLLING_INTERVAL: float = 1.0  # seconds
 
+    # Telegram notification type filters (granular control)
+    # circuit_breaker is always sent regardless — safety-critical
+    TELEGRAM_NOTIFY_TRADES: bool = True           # BUY/SELL execution alerts
+    TELEGRAM_NOTIFY_MARKET_OPEN_CLOSE: bool = True  # Market open/close alerts
+    TELEGRAM_NOTIFY_FAT_FINGER: bool = True       # Fat-finger rejection alerts
+    TELEGRAM_NOTIFY_SYSTEM_EVENTS: bool = True    # System start/shutdown alerts
+    TELEGRAM_NOTIFY_PLAYBOOK: bool = True         # Playbook generated/failed alerts
+    TELEGRAM_NOTIFY_SCENARIO_MATCH: bool = True   # Scenario matched alerts (most frequent)
+    TELEGRAM_NOTIFY_ERRORS: bool = True           # Error alerts
+
+    # Overseas ranking API (KIS endpoint/TR_ID may vary by account/product)
+    # Override these from .env if your account uses different specs.
+    OVERSEAS_RANKING_ENABLED: bool = True
+    OVERSEAS_RANKING_FLUCT_TR_ID: str = "HHDFS76290000"
+    OVERSEAS_RANKING_VOLUME_TR_ID: str = "HHDFS76270000"
+    OVERSEAS_RANKING_FLUCT_PATH: str = (
+        "/uapi/overseas-stock/v1/ranking/updown-rate"
+    )
+    OVERSEAS_RANKING_VOLUME_PATH: str = (
+        "/uapi/overseas-stock/v1/ranking/volume-surge"
+    )
+
+    # Dashboard (optional)
+    DASHBOARD_ENABLED: bool = False
+    DASHBOARD_HOST: str = "127.0.0.1"
+    DASHBOARD_PORT: int = Field(default=8080, ge=1, le=65535)
+
     model_config = {"env_file": ".env", "env_file_encoding": "utf-8"}
 
     @property
@@ -96,4 +137,7 @@ class Settings(BaseSettings):
     @property
     def enabled_market_list(self) -> list[str]:
         """Parse ENABLED_MARKETS into list of market codes."""
-        return [m.strip() for m in self.ENABLED_MARKETS.split(",") if m.strip()]
+        from src.markets.schedule import expand_market_codes
+
+        raw = [m.strip() for m in self.ENABLED_MARKETS.split(",") if m.strip()]
+        return expand_market_codes(raw)

src/core/blackout_manager.py

@@ -0,0 +1,105 @@
+"""Blackout policy and queued order-intent manager."""
+
+from __future__ import annotations
+
+from collections import deque
+from dataclasses import dataclass
+from datetime import UTC, datetime, time
+from zoneinfo import ZoneInfo
+
+
+@dataclass(frozen=True)
+class BlackoutWindow:
+    start: time
+    end: time
+
+    def contains(self, kst_time: time) -> bool:
+        if self.start <= self.end:
+            return self.start <= kst_time < self.end
+        return kst_time >= self.start or kst_time < self.end
+
+
+@dataclass
+class QueuedOrderIntent:
+    market_code: str
+    exchange_code: str
+    stock_code: str
+    order_type: str
+    quantity: int
+    price: float
+    source: str
+    queued_at: datetime
+    attempts: int = 0
+
+
+def parse_blackout_windows_kst(raw: str) -> list[BlackoutWindow]:
+    """Parse comma-separated KST windows like '23:30-00:10,11:20-11:30'."""
+    windows: list[BlackoutWindow] = []
+    for token in raw.split(","):
+        span = token.strip()
+        if not span or "-" not in span:
+            continue
+        start_raw, end_raw = [part.strip() for part in span.split("-", 1)]
+        try:
+            start_h, start_m = [int(v) for v in start_raw.split(":", 1)]
+            end_h, end_m = [int(v) for v in end_raw.split(":", 1)]
+        except (ValueError, TypeError):
+            continue
+        if not (0 <= start_h <= 23 and 0 <= end_h <= 23):
+            continue
+        if not (0 <= start_m <= 59 and 0 <= end_m <= 59):
+            continue
+        windows.append(BlackoutWindow(start=time(start_h, start_m), end=time(end_h, end_m)))
+    return windows
+
+
+class BlackoutOrderManager:
+    """Tracks blackout mode and queues order intents until recovery."""
+
+    def __init__(
+        self,
+        *,
+        enabled: bool,
+        windows: list[BlackoutWindow],
+        max_queue_size: int = 500,
+    ) -> None:
+        self.enabled = enabled
+        self._windows = windows
+        self._queue: deque[QueuedOrderIntent] = deque()
+        self._was_blackout = False
+        self._max_queue_size = max_queue_size
+
+    @property
+    def pending_count(self) -> int:
+        return len(self._queue)
+
+    def in_blackout(self, now: datetime | None = None) -> bool:
+        if not self.enabled or not self._windows:
+            return False
+        now = now or datetime.now(UTC)
+        kst_now = now.astimezone(ZoneInfo("Asia/Seoul")).timetz().replace(tzinfo=None)
+        return any(window.contains(kst_now) for window in self._windows)
+
+    def enqueue(self, intent: QueuedOrderIntent) -> bool:
+        if len(self._queue) >= self._max_queue_size:
+            return False
+        self._queue.append(intent)
+        return True
+
+    def pop_recovery_batch(self, now: datetime | None = None) -> list[QueuedOrderIntent]:
+        in_blackout_now = self.in_blackout(now)
+        batch: list[QueuedOrderIntent] = []
+        if not in_blackout_now and self._queue:
+            while self._queue:
+                batch.append(self._queue.popleft())
+        self._was_blackout = in_blackout_now
+        return batch
+
+    def requeue(self, intent: QueuedOrderIntent) -> None:
+        if len(self._queue) < self._max_queue_size:
+            self._queue.append(intent)
+
+    def clear(self) -> int:
+        count = len(self._queue)
+        self._queue.clear()
+        return count

src/core/kill_switch.py

@@ -0,0 +1,71 @@
+"""Kill switch orchestration for emergency risk actions.
+
+Order is fixed:
+1) block new orders
+2) cancel pending orders
+3) refresh order state
+4) reduce risk
+5) snapshot and notify
+"""
+
+from __future__ import annotations
+
+import inspect
+from dataclasses import dataclass, field
+from typing import Any, Awaitable, Callable
+
+StepCallable = Callable[[], Any | Awaitable[Any]]
+
+
+@dataclass
+class KillSwitchReport:
+    reason: str
+    steps: list[str] = field(default_factory=list)
+    errors: list[str] = field(default_factory=list)
+
+
+class KillSwitchOrchestrator:
+    def __init__(self) -> None:
+        self.new_orders_blocked = False
+
+    async def _run_step(
+        self,
+        report: KillSwitchReport,
+        name: str,
+        fn: StepCallable | None,
+    ) -> None:
+        report.steps.append(name)
+        if fn is None:
+            return
+        try:
+            result = fn()
+            if inspect.isawaitable(result):
+                await result
+        except Exception as exc:  # pragma: no cover - intentionally resilient
+            report.errors.append(f"{name}: {exc}")
+
+    async def trigger(
+        self,
+        *,
+        reason: str,
+        cancel_pending_orders: StepCallable | None = None,
+        refresh_order_state: StepCallable | None = None,
+        reduce_risk: StepCallable | None = None,
+        snapshot_state: StepCallable | None = None,
+        notify: StepCallable | None = None,
+    ) -> KillSwitchReport:
+        report = KillSwitchReport(reason=reason)
+
+        self.new_orders_blocked = True
+        report.steps.append("block_new_orders")
+
+        await self._run_step(report, "cancel_pending_orders", cancel_pending_orders)
+        await self._run_step(report, "refresh_order_state", refresh_order_state)
+        await self._run_step(report, "reduce_risk", reduce_risk)
+        await self._run_step(report, "snapshot_state", snapshot_state)
+        await self._run_step(report, "notify", notify)
+
+        return report
+
+    def clear_block(self) -> None:
+        self.new_orders_blocked = False

src/core/order_policy.py

@@ -0,0 +1,93 @@
+"""Session-aware order policy guards.
+
+Default policy:
+- Low-liquidity sessions must reject market orders (price <= 0).
+"""
+
+from __future__ import annotations
+
+from dataclasses import dataclass
+from datetime import UTC, datetime, time
+from zoneinfo import ZoneInfo
+
+from src.markets.schedule import MarketInfo
+
+_LOW_LIQUIDITY_SESSIONS = {"NXT_AFTER", "US_PRE", "US_DAY", "US_AFTER"}
+
+
+class OrderPolicyRejected(Exception):
+    """Raised when an order violates session policy."""
+
+    def __init__(self, message: str, *, session_id: str, market_code: str) -> None:
+        super().__init__(message)
+        self.session_id = session_id
+        self.market_code = market_code
+
+
+@dataclass(frozen=True)
+class SessionInfo:
+    session_id: str
+    is_low_liquidity: bool
+
+
+def classify_session_id(market: MarketInfo, now: datetime | None = None) -> str:
+    """Classify current session by KST schedule used in v3 docs."""
+    now = now or datetime.now(UTC)
+    # v3 session tables are explicitly defined in KST perspective.
+    kst_time = now.astimezone(ZoneInfo("Asia/Seoul")).timetz().replace(tzinfo=None)
+
+    if market.code == "KR":
+        if time(8, 0) <= kst_time < time(8, 50):
+            return "NXT_PRE"
+        if time(9, 0) <= kst_time < time(15, 30):
+            return "KRX_REG"
+        if time(15, 30) <= kst_time < time(20, 0):
+            return "NXT_AFTER"
+        return "KR_OFF"
+
+    if market.code.startswith("US"):
+        if time(10, 0) <= kst_time < time(18, 0):
+            return "US_DAY"
+        if time(18, 0) <= kst_time < time(23, 30):
+            return "US_PRE"
+        if time(23, 30) <= kst_time or kst_time < time(6, 0):
+            return "US_REG"
+        if time(6, 0) <= kst_time < time(7, 0):
+            return "US_AFTER"
+        return "US_OFF"
+
+    return "GENERIC_REG"
+
+
+def get_session_info(market: MarketInfo, now: datetime | None = None) -> SessionInfo:
+    session_id = classify_session_id(market, now)
+    return SessionInfo(session_id=session_id, is_low_liquidity=session_id in _LOW_LIQUIDITY_SESSIONS)
+
+
+def validate_order_policy(
+    *,
+    market: MarketInfo,
+    order_type: str,
+    price: float,
+    now: datetime | None = None,
+) -> SessionInfo:
+    """Validate order against session policy and return resolved session info."""
+    info = get_session_info(market, now)
+
+    is_market_order = price <= 0
+    if info.is_low_liquidity and is_market_order:
+        raise OrderPolicyRejected(
+            f"Market order is forbidden in low-liquidity session ({info.session_id})",
+            session_id=info.session_id,
+            market_code=market.code,
+        )
+
+    # Guard against accidental unsupported actions.
+    if order_type not in {"BUY", "SELL"}:
+        raise OrderPolicyRejected(
+            f"Unsupported order_type={order_type}",
+            session_id=info.session_id,
+            market_code=market.code,
+        )
+
+    return info

src/dashboard/__init__.py

@@ -0,0 +1,5 @@
+"""FastAPI dashboard package for observability APIs."""
+
+from src.dashboard.app import create_dashboard_app
+
+__all__ = ["create_dashboard_app"]

src/dashboard/app.py

@@ -0,0 +1,498 @@
+"""FastAPI application for observability dashboard endpoints."""
+
+from __future__ import annotations
+
+import json
+import os
+import sqlite3
+from datetime import UTC, datetime, timezone
+from pathlib import Path
+from typing import Any
+
+from fastapi import FastAPI, HTTPException, Query
+from fastapi.responses import FileResponse
+
+
+def create_dashboard_app(db_path: str, mode: str = "paper") -> FastAPI:
+    """Create dashboard FastAPI app bound to a SQLite database path."""
+    app = FastAPI(title="The Ouroboros Dashboard", version="1.0.0")
+    app.state.db_path = db_path
+    app.state.mode = mode
+
+    @app.get("/")
+    def index() -> FileResponse:
+        index_path = Path(__file__).parent / "static" / "index.html"
+        return FileResponse(index_path)
+
+    @app.get("/api/status")
+    def get_status() -> dict[str, Any]:
+        today = datetime.now(UTC).date().isoformat()
+        with _connect(db_path) as conn:
+            market_rows = conn.execute(
+                """
+                SELECT DISTINCT market FROM (
+                    SELECT market FROM trades WHERE DATE(timestamp) = ?
+                    UNION
+                    SELECT market FROM decision_logs WHERE DATE(timestamp) = ?
+                    UNION
+                    SELECT market FROM playbooks WHERE date = ?
+                ) ORDER BY market
+                """,
+                (today, today, today),
+            ).fetchall()
+            markets = [row[0] for row in market_rows] if market_rows else []
+            market_status: dict[str, Any] = {}
+            total_trades = 0
+            total_pnl = 0.0
+            total_decisions = 0
+            for market in markets:
+                trade_row = conn.execute(
+                    """
+                    SELECT COUNT(*) AS c, COALESCE(SUM(pnl), 0.0) AS p
+                    FROM trades
+                    WHERE DATE(timestamp) = ? AND market = ?
+                    """,
+                    (today, market),
+                ).fetchone()
+                decision_row = conn.execute(
+                    """
+                    SELECT COUNT(*) AS c
+                    FROM decision_logs
+                    WHERE DATE(timestamp) = ? AND market = ?
+                    """,
+                    (today, market),
+                ).fetchone()
+                playbook_row = conn.execute(
+                    """
+                    SELECT status
+                    FROM playbooks
+                    WHERE date = ? AND market = ?
+                    LIMIT 1
+                    """,
+                    (today, market),
+                ).fetchone()
+                market_status[market] = {
+                    "trade_count": int(trade_row["c"] if trade_row else 0),
+                    "total_pnl": float(trade_row["p"] if trade_row else 0.0),
+                    "decision_count": int(decision_row["c"] if decision_row else 0),
+                    "playbook_status": playbook_row["status"] if playbook_row else None,
+                }
+                total_trades += market_status[market]["trade_count"]
+                total_pnl += market_status[market]["total_pnl"]
+                total_decisions += market_status[market]["decision_count"]
+
+            cb_threshold = float(os.getenv("CIRCUIT_BREAKER_PCT", "-3.0"))
+            pnl_pct_rows = conn.execute(
+                """
+                SELECT key, value
+                FROM system_metrics
+                WHERE key LIKE 'portfolio_pnl_pct_%'
+                ORDER BY updated_at DESC
+                LIMIT 20
+                """
+            ).fetchall()
+            current_pnl_pct: float | None = None
+            if pnl_pct_rows:
+                values = [
+                    json.loads(row["value"]).get("pnl_pct")
+                    for row in pnl_pct_rows
+                    if json.loads(row["value"]).get("pnl_pct") is not None
+                ]
+                if values:
+                    current_pnl_pct = round(min(values), 4)
+
+            if current_pnl_pct is None:
+                cb_status = "unknown"
+            elif current_pnl_pct <= cb_threshold:
+                cb_status = "tripped"
+            elif current_pnl_pct <= cb_threshold + 1.0:
+                cb_status = "warning"
+            else:
+                cb_status = "ok"
+
+            return {
+                "date": today,
+                "mode": mode,
+                "markets": market_status,
+                "totals": {
+                    "trade_count": total_trades,
+                    "total_pnl": round(total_pnl, 2),
+                    "decision_count": total_decisions,
+                },
+                "circuit_breaker": {
+                    "threshold_pct": cb_threshold,
+                    "current_pnl_pct": current_pnl_pct,
+                    "status": cb_status,
+                },
+            }
+
+    @app.get("/api/playbook/{date_str}")
+    def get_playbook(date_str: str, market: str = Query("KR")) -> dict[str, Any]:
+        with _connect(db_path) as conn:
+            row = conn.execute(
+                """
+                SELECT date, market, status, playbook_json, generated_at,
+                       token_count, scenario_count, match_count
+                FROM playbooks
+                WHERE date = ? AND market = ?
+                """,
+                (date_str, market),
+            ).fetchone()
+            if row is None:
+                raise HTTPException(status_code=404, detail="playbook not found")
+            return {
+                "date": row["date"],
+                "market": row["market"],
+                "status": row["status"],
+                "playbook": json.loads(row["playbook_json"]),
+                "generated_at": row["generated_at"],
+                "token_count": row["token_count"],
+                "scenario_count": row["scenario_count"],
+                "match_count": row["match_count"],
+            }
+
+    @app.get("/api/scorecard/{date_str}")
+    def get_scorecard(date_str: str, market: str = Query("KR")) -> dict[str, Any]:
+        key = f"scorecard_{market}"
+        with _connect(db_path) as conn:
+            row = conn.execute(
+                """
+                SELECT value
+                FROM contexts
+                WHERE layer = 'L6_DAILY' AND timeframe = ? AND key = ?
+                """,
+                (date_str, key),
+            ).fetchone()
+            if row is None:
+                raise HTTPException(status_code=404, detail="scorecard not found")
+            return {"date": date_str, "market": market, "scorecard": json.loads(row["value"])}
+
+    @app.get("/api/performance")
+    def get_performance(market: str = Query("all")) -> dict[str, Any]:
+        with _connect(db_path) as conn:
+            if market == "all":
+                by_market_rows = conn.execute(
+                    """
+                    SELECT market,
+                           COUNT(*) AS total_trades,
+                           SUM(CASE WHEN pnl > 0 THEN 1 ELSE 0 END) AS wins,
+                           SUM(CASE WHEN pnl < 0 THEN 1 ELSE 0 END) AS losses,
+                           COALESCE(SUM(pnl), 0.0) AS total_pnl,
+                           COALESCE(AVG(confidence), 0.0) AS avg_confidence
+                    FROM trades
+                    GROUP BY market
+                    ORDER BY market
+                    """
+                ).fetchall()
+                combined = _performance_from_rows(by_market_rows)
+                return {
+                    "market": "all",
+                    "combined": combined,
+                    "by_market": [
+                        _row_to_performance(row)
+                        for row in by_market_rows
+                    ],
+                }
+
+            row = conn.execute(
+                """
+                SELECT market,
+                       COUNT(*) AS total_trades,
+                       SUM(CASE WHEN pnl > 0 THEN 1 ELSE 0 END) AS wins,
+                       SUM(CASE WHEN pnl < 0 THEN 1 ELSE 0 END) AS losses,
+                       COALESCE(SUM(pnl), 0.0) AS total_pnl,
+                       COALESCE(AVG(confidence), 0.0) AS avg_confidence
+                FROM trades
+                WHERE market = ?
+                GROUP BY market
+                """,
+                (market,),
+            ).fetchone()
+            if row is None:
+                return {"market": market, "metrics": _empty_performance(market)}
+            return {"market": market, "metrics": _row_to_performance(row)}
+
+    @app.get("/api/context/{layer}")
+    def get_context_layer(
+        layer: str,
+        timeframe: str | None = Query(default=None),
+        limit: int = Query(default=100, ge=1, le=1000),
+    ) -> dict[str, Any]:
+        with _connect(db_path) as conn:
+            if timeframe is None:
+                rows = conn.execute(
+                    """
+                    SELECT timeframe, key, value, updated_at
+                    FROM contexts
+                    WHERE layer = ?
+                    ORDER BY updated_at DESC
+                    LIMIT ?
+                    """,
+                    (layer, limit),
+                ).fetchall()
+            else:
+                rows = conn.execute(
+                    """
+                    SELECT timeframe, key, value, updated_at
+                    FROM contexts
+                    WHERE layer = ? AND timeframe = ?
+                    ORDER BY key
+                    LIMIT ?
+                    """,
+                    (layer, timeframe, limit),
+                ).fetchall()
+
+            entries = [
+                {
+                    "timeframe": row["timeframe"],
+                    "key": row["key"],
+                    "value": json.loads(row["value"]),
+                    "updated_at": row["updated_at"],
+                }
+                for row in rows
+            ]
+            return {
+                "layer": layer,
+                "timeframe": timeframe,
+                "count": len(entries),
+                "entries": entries,
+            }
+
+    @app.get("/api/decisions")
+    def get_decisions(
+        market: str = Query("KR"),
+        limit: int = Query(default=50, ge=1, le=500),
+    ) -> dict[str, Any]:
+        with _connect(db_path) as conn:
+            rows = conn.execute(
+                """
+                SELECT decision_id, timestamp, stock_code, market, exchange_code,
+                       action, confidence, rationale, context_snapshot, input_data,
+                       outcome_pnl, outcome_accuracy
+                FROM decision_logs
+                WHERE market = ?
+                ORDER BY timestamp DESC
+                LIMIT ?
+                """,
+                (market, limit),
+            ).fetchall()
+            decisions = []
+            for row in rows:
+                decisions.append(
+                    {
+                        "decision_id": row["decision_id"],
+                        "timestamp": row["timestamp"],
+                        "stock_code": row["stock_code"],
+                        "market": row["market"],
+                        "exchange_code": row["exchange_code"],
+                        "action": row["action"],
+                        "confidence": row["confidence"],
+                        "rationale": row["rationale"],
+                        "context_snapshot": json.loads(row["context_snapshot"]),
+                        "input_data": json.loads(row["input_data"]),
+                        "outcome_pnl": row["outcome_pnl"],
+                        "outcome_accuracy": row["outcome_accuracy"],
+                    }
+                )
+            return {"market": market, "count": len(decisions), "decisions": decisions}
+
+    @app.get("/api/pnl/history")
+    def get_pnl_history(
+        days: int = Query(default=30, ge=1, le=365),
+        market: str = Query("all"),
+    ) -> dict[str, Any]:
+        """Return daily P&L history for charting."""
+        with _connect(db_path) as conn:
+            if market == "all":
+                rows = conn.execute(
+                    """
+                    SELECT DATE(timestamp) AS date,
+                           SUM(pnl) AS daily_pnl,
+                           COUNT(*) AS trade_count
+                    FROM trades
+                    WHERE pnl IS NOT NULL
+                      AND DATE(timestamp) >= DATE('now', ?)
+                    GROUP BY DATE(timestamp)
+                    ORDER BY DATE(timestamp)
+                    """,
+                    (f"-{days} days",),
+                ).fetchall()
+            else:
+                rows = conn.execute(
+                    """
+                    SELECT DATE(timestamp) AS date,
+                           SUM(pnl) AS daily_pnl,
+                           COUNT(*) AS trade_count
+                    FROM trades
+                    WHERE pnl IS NOT NULL
+                      AND market = ?
+                      AND DATE(timestamp) >= DATE('now', ?)
+                    GROUP BY DATE(timestamp)
+                    ORDER BY DATE(timestamp)
+                    """,
+                    (market, f"-{days} days"),
+                ).fetchall()
+            return {
+                "days": days,
+                "market": market,
+                "labels": [row["date"] for row in rows],
+                "pnl": [round(float(row["daily_pnl"]), 2) for row in rows],
+                "trades": [int(row["trade_count"]) for row in rows],
+            }
+
+    @app.get("/api/scenarios/active")
+    def get_active_scenarios(
+        market: str = Query("US"),
+        date_str: str | None = Query(default=None),
+        limit: int = Query(default=50, ge=1, le=500),
+    ) -> dict[str, Any]:
+        if date_str is None:
+            date_str = datetime.now(UTC).date().isoformat()
+
+        with _connect(db_path) as conn:
+            rows = conn.execute(
+                """
+                SELECT timestamp, stock_code, action, confidence, rationale, context_snapshot
+                FROM decision_logs
+                WHERE market = ? AND DATE(timestamp) = ?
+                ORDER BY timestamp DESC
+                LIMIT ?
+                """,
+                (market, date_str, limit),
+            ).fetchall()
+            matches: list[dict[str, Any]] = []
+            for row in rows:
+                snapshot = json.loads(row["context_snapshot"])
+                scenario_match = snapshot.get("scenario_match", {})
+                if not isinstance(scenario_match, dict) or not scenario_match:
+                    continue
+                matches.append(
+                    {
+                        "timestamp": row["timestamp"],
+                        "stock_code": row["stock_code"],
+                        "action": row["action"],
+                        "confidence": row["confidence"],
+                        "rationale": row["rationale"],
+                        "scenario_match": scenario_match,
+                    }
+                )
+            return {"market": market, "date": date_str, "count": len(matches), "matches": matches}
+
+    @app.get("/api/positions")
+    def get_positions() -> dict[str, Any]:
+        """Return all currently open positions (last trade per symbol is BUY)."""
+        with _connect(db_path) as conn:
+            rows = conn.execute(
+                """
+                SELECT stock_code, market, exchange_code,
+                       price AS entry_price, quantity, timestamp AS entry_time,
+                       decision_id
+                FROM (
+                    SELECT stock_code, market, exchange_code, price, quantity,
+                           timestamp, decision_id, action,
+                           ROW_NUMBER() OVER (
+                               PARTITION BY stock_code, market
+                               ORDER BY timestamp DESC
+                           ) AS rn
+                    FROM trades
+                )
+                WHERE rn = 1 AND action = 'BUY'
+                ORDER BY entry_time DESC
+                """
+            ).fetchall()
+
+            now = datetime.now(timezone.utc)
+            positions = []
+            for row in rows:
+                entry_time_str = row["entry_time"]
+                try:
+                    entry_dt = datetime.fromisoformat(entry_time_str.replace("Z", "+00:00"))
+                    held_seconds = int((now - entry_dt).total_seconds())
+                    held_hours = held_seconds // 3600
+                    held_minutes = (held_seconds % 3600) // 60
+                    if held_hours >= 1:
+                        held_display = f"{held_hours}h {held_minutes}m"
+                    else:
+                        held_display = f"{held_minutes}m"
+                except (ValueError, TypeError):
+                    held_display = "--"
+
+                positions.append(
+                    {
+                        "stock_code": row["stock_code"],
+                        "market": row["market"],
+                        "exchange_code": row["exchange_code"],
+                        "entry_price": row["entry_price"],
+                        "quantity": row["quantity"],
+                        "entry_time": entry_time_str,
+                        "held": held_display,
+                        "decision_id": row["decision_id"],
+                    }
+                )
+
+            return {"count": len(positions), "positions": positions}
+
+    return app
+
+
+def _connect(db_path: str) -> sqlite3.Connection:
+    conn = sqlite3.connect(db_path)
+    conn.row_factory = sqlite3.Row
+    conn.execute("PRAGMA journal_mode=WAL")
+    conn.execute("PRAGMA busy_timeout=8000")
+    return conn
+
+
+def _row_to_performance(row: sqlite3.Row) -> dict[str, Any]:
+    wins = int(row["wins"] or 0)
+    losses = int(row["losses"] or 0)
+    total = int(row["total_trades"] or 0)
+    win_rate = round((wins / (wins + losses) * 100), 2) if (wins + losses) > 0 else 0.0
+    return {
+        "market": row["market"],
+        "total_trades": total,
+        "wins": wins,
+        "losses": losses,
+        "win_rate": win_rate,
+        "total_pnl": round(float(row["total_pnl"] or 0.0), 2),
+        "avg_confidence": round(float(row["avg_confidence"] or 0.0), 2),
+    }
+
+
+def _performance_from_rows(rows: list[sqlite3.Row]) -> dict[str, Any]:
+    total_trades = 0
+    wins = 0
+    losses = 0
+    total_pnl = 0.0
+    confidence_weighted = 0.0
+    for row in rows:
+        market_total = int(row["total_trades"] or 0)
+        market_conf = float(row["avg_confidence"] or 0.0)
+        total_trades += market_total
+        wins += int(row["wins"] or 0)
+        losses += int(row["losses"] or 0)
+        total_pnl += float(row["total_pnl"] or 0.0)
+        confidence_weighted += market_total * market_conf
+    win_rate = round((wins / (wins + losses) * 100), 2) if (wins + losses) > 0 else 0.0
+    avg_confidence = round(confidence_weighted / total_trades, 2) if total_trades > 0 else 0.0
+    return {
+        "market": "all",
+        "total_trades": total_trades,
+        "wins": wins,
+        "losses": losses,
+        "win_rate": win_rate,
+        "total_pnl": round(total_pnl, 2),
+        "avg_confidence": avg_confidence,
+    }
+
+
+def _empty_performance(market: str) -> dict[str, Any]:
+    return {
+        "market": market,
+        "total_trades": 0,
+        "wins": 0,
+        "losses": 0,
+        "win_rate": 0.0,
+        "total_pnl": 0.0,
+        "avg_confidence": 0.0,
+    }

src/dashboard/static/index.html

@@ -0,0 +1,798 @@
+<!doctype html>
+<html lang="ko">
+  <head>
+    <meta charset="UTF-8" />
+    <meta name="viewport" content="width=device-width, initial-scale=1.0" />
+    <title>The Ouroboros Dashboard</title>
+    <script src="https://cdn.jsdelivr.net/npm/chart.js@4.4.0/dist/chart.umd.min.js"></script>
+    <style>
+      :root {
+        --bg: #0b1724;
+        --panel: #12263a;
+        --fg: #e6eef7;
+        --muted: #9fb3c8;
+        --accent: #3cb371;
+        --red: #e05555;
+        --warn: #e8a040;
+        --border: #28455f;
+      }
+      * { box-sizing: border-box; margin: 0; padding: 0; }
+      body {
+        font-family: ui-monospace, SFMono-Regular, Menlo, monospace;
+        background: radial-gradient(circle at top left, #173b58, var(--bg));
+        color: var(--fg);
+        min-height: 100vh;
+        font-size: 13px;
+      }
+      .wrap { max-width: 1100px; margin: 0 auto; padding: 20px 16px; }
+
+      /* Header */
+      header {
+        display: flex;
+        align-items: center;
+        justify-content: space-between;
+        margin-bottom: 20px;
+        padding-bottom: 12px;
+        border-bottom: 1px solid var(--border);
+      }
+      header h1 { font-size: 18px; color: var(--accent); letter-spacing: 0.5px; }
+      .header-right { display: flex; align-items: center; gap: 12px; color: var(--muted); font-size: 12px; }
+      .refresh-btn {
+        background: none; border: 1px solid var(--border); color: var(--muted);
+        padding: 4px 10px; border-radius: 6px; cursor: pointer; font-family: inherit;
+        font-size: 12px; transition: border-color 0.2s;
+      }
+      .refresh-btn:hover { border-color: var(--accent); color: var(--accent); }
+      .mode-badge {
+        padding: 3px 10px; border-radius: 5px; font-size: 12px; font-weight: 700;
+        letter-spacing: 0.5px;
+      }
+      .mode-badge.live {
+        background: rgba(224, 85, 85, 0.15); color: var(--red);
+        border: 1px solid rgba(224, 85, 85, 0.4);
+        animation: pulse-warn 2s ease-in-out infinite;
+      }
+      .mode-badge.paper {
+        background: rgba(232, 160, 64, 0.15); color: var(--warn);
+        border: 1px solid rgba(232, 160, 64, 0.4);
+      }
+
+      /* CB Gauge */
+      .cb-gauge-wrap {
+        display: flex; align-items: center; gap: 8px;
+        font-size: 11px; color: var(--muted);
+      }
+      .cb-dot {
+        width: 8px; height: 8px; border-radius: 50%; flex-shrink: 0;
+      }
+      .cb-dot.ok      { background: var(--accent); }
+      .cb-dot.warning { background: var(--warn); animation: pulse-warn 1.2s ease-in-out infinite; }
+      .cb-dot.tripped { background: var(--red);  animation: pulse-warn 0.6s ease-in-out infinite; }
+      .cb-dot.unknown { background: var(--border); }
+      @keyframes pulse-warn {
+        0%, 100% { opacity: 1; }
+        50%       { opacity: 0.35; }
+      }
+      .cb-bar-wrap { width: 64px; height: 5px; background: rgba(255,255,255,0.08); border-radius: 3px; overflow: hidden; }
+      .cb-bar-fill { height: 100%; border-radius: 3px; transition: width 0.4s, background 0.4s; }
+
+      /* Summary cards */
+      .cards { display: grid; grid-template-columns: repeat(4, 1fr); gap: 12px; margin-bottom: 20px; }
+      @media (max-width: 700px) { .cards { grid-template-columns: repeat(2, 1fr); } }
+      .card {
+        background: var(--panel);
+        border: 1px solid var(--border);
+        border-radius: 10px;
+        padding: 16px;
+      }
+      .card-label { color: var(--muted); font-size: 11px; margin-bottom: 6px; text-transform: uppercase; letter-spacing: 0.5px; }
+      .card-value { font-size: 22px; font-weight: 700; }
+      .card-sub { color: var(--muted); font-size: 11px; margin-top: 4px; }
+      .positive { color: var(--accent); }
+      .negative { color: var(--red); }
+      .neutral { color: var(--fg); }
+
+      /* Chart panel */
+      .chart-panel {
+        background: var(--panel);
+        border: 1px solid var(--border);
+        border-radius: 10px;
+        padding: 16px;
+        margin-bottom: 20px;
+      }
+      .panel-header {
+        display: flex;
+        align-items: center;
+        justify-content: space-between;
+        margin-bottom: 16px;
+      }
+      .panel-title { font-size: 13px; color: var(--muted); font-weight: 600; }
+      .chart-container { position: relative; height: 180px; }
+      .chart-error { color: var(--muted); text-align: center; padding: 40px 0; font-size: 12px; }
+
+      /* Days selector */
+      .days-selector { display: flex; gap: 4px; }
+      .day-btn {
+        background: none; border: 1px solid var(--border); color: var(--muted);
+        padding: 3px 8px; border-radius: 4px; cursor: pointer; font-family: inherit; font-size: 11px;
+      }
+      .day-btn.active { border-color: var(--accent); color: var(--accent); background: rgba(60, 179, 113, 0.08); }
+
+      /* Decisions panel */
+      .decisions-panel {
+        background: var(--panel);
+        border: 1px solid var(--border);
+        border-radius: 10px;
+        padding: 16px;
+      }
+      .market-tabs { display: flex; gap: 6px; flex-wrap: wrap; }
+      .tab-btn {
+        background: none; border: 1px solid var(--border); color: var(--muted);
+        padding: 4px 10px; border-radius: 6px; cursor: pointer; font-family: inherit; font-size: 11px;
+      }
+      .tab-btn.active { border-color: var(--accent); color: var(--accent); background: rgba(60, 179, 113, 0.08); }
+      .decisions-table { width: 100%; border-collapse: collapse; margin-top: 14px; }
+      .decisions-table th {
+        text-align: left; color: var(--muted); font-size: 11px; font-weight: 600;
+        padding: 6px 8px; border-bottom: 1px solid var(--border); white-space: nowrap;
+      }
+      .decisions-table td {
+        padding: 8px 8px; border-bottom: 1px solid rgba(40, 69, 95, 0.5);
+        vertical-align: middle; white-space: nowrap;
+      }
+      .decisions-table tr:last-child td { border-bottom: none; }
+      .decisions-table tr:hover td { background: rgba(255,255,255,0.02); }
+      .badge {
+        display: inline-block; padding: 2px 7px; border-radius: 4px;
+        font-size: 11px; font-weight: 700; letter-spacing: 0.5px;
+      }
+      .badge-buy { background: rgba(60, 179, 113, 0.15); color: var(--accent); }
+      .badge-sell { background: rgba(224, 85, 85, 0.15); color: var(--red); }
+      .badge-hold { background: rgba(159, 179, 200, 0.12); color: var(--muted); }
+      .conf-bar-wrap { display: flex; align-items: center; gap: 6px; min-width: 90px; }
+      .conf-bar { flex: 1; height: 6px; background: rgba(255,255,255,0.08); border-radius: 3px; overflow: hidden; }
+      .conf-fill { height: 100%; border-radius: 3px; background: var(--accent); transition: width 0.3s; }
+      .conf-val { color: var(--muted); font-size: 11px; min-width: 26px; text-align: right; }
+      .rationale-cell { max-width: 200px; overflow: hidden; text-overflow: ellipsis; color: var(--muted); }
+      .empty-row td { text-align: center; color: var(--muted); padding: 24px; }
+
+      /* Positions panel */
+      .positions-panel {
+        background: var(--panel);
+        border: 1px solid var(--border);
+        border-radius: 10px;
+        padding: 16px;
+        margin-bottom: 20px;
+      }
+      .positions-table { width: 100%; border-collapse: collapse; margin-top: 14px; }
+      .positions-table th {
+        text-align: left; color: var(--muted); font-size: 11px; font-weight: 600;
+        padding: 6px 8px; border-bottom: 1px solid var(--border); white-space: nowrap;
+      }
+      .positions-table td {
+        padding: 8px 8px; border-bottom: 1px solid rgba(40, 69, 95, 0.5);
+        vertical-align: middle; white-space: nowrap;
+      }
+      .positions-table tr:last-child td { border-bottom: none; }
+      .positions-table tr:hover td { background: rgba(255,255,255,0.02); }
+      .pos-empty { color: var(--muted); text-align: center; padding: 20px 0; font-size: 12px; }
+      .pos-count {
+        display: inline-block; background: rgba(60, 179, 113, 0.12);
+        color: var(--accent); font-size: 11px; font-weight: 700;
+        padding: 2px 8px; border-radius: 10px; margin-left: 8px;
+      }
+
+      /* Spinner */
+      .spinner { display: inline-block; width: 12px; height: 12px; border: 2px solid var(--border); border-top-color: var(--accent); border-radius: 50%; animation: spin 0.8s linear infinite; }
+      @keyframes spin { to { transform: rotate(360deg); } }
+
+      /* Generic panel */
+      .panel {
+        background: var(--panel);
+        border: 1px solid var(--border);
+        border-radius: 10px;
+        padding: 16px;
+        margin-top: 20px;
+      }
+
+      /* Playbook panel - details/summary accordion */
+      .playbook-panel details { border: 1px solid var(--border); border-radius: 4px; margin-bottom: 6px; }
+      .playbook-panel summary { padding: 8px 12px; cursor: pointer; font-weight: 600; background: var(--bg); color: var(--fg); }
+      .playbook-panel summary:hover { color: var(--accent); }
+      .playbook-panel pre { margin: 0; padding: 12px; background: var(--bg); overflow-x: auto;
+                            font-size: 11px; color: #a0c4ff; white-space: pre-wrap; }
+
+      /* Scorecard KPI card grid */
+      .scorecard-grid { display: grid; grid-template-columns: repeat(auto-fill, minmax(140px, 1fr)); gap: 10px; }
+      .kpi-card { background: var(--bg); border: 1px solid var(--border); border-radius: 6px; padding: 12px; text-align: center; }
+      .kpi-card .kpi-label { font-size: 11px; color: var(--muted); margin-bottom: 4px; }
+      .kpi-card .kpi-value { font-size: 20px; font-weight: 700; color: var(--fg); }
+
+      /* Scenarios table */
+      .scenarios-table { width: 100%; border-collapse: collapse; font-size: 13px; }
+      .scenarios-table th { background: var(--bg); padding: 8px; text-align: left; border-bottom: 1px solid var(--border);
+                            color: var(--muted); font-size: 11px; font-weight: 600; white-space: nowrap; }
+      .scenarios-table td { padding: 7px 8px; border-bottom: 1px solid rgba(40,69,95,0.5); }
+      .scenarios-table tr:hover td { background: rgba(255,255,255,0.02); }
+
+      /* Context table */
+      .context-table { width: 100%; border-collapse: collapse; font-size: 12px; }
+      .context-table th { background: var(--bg); padding: 8px; text-align: left; border-bottom: 1px solid var(--border);
+                          color: var(--muted); font-size: 11px; font-weight: 600; white-space: nowrap; }
+      .context-table td { padding: 6px 8px; border-bottom: 1px solid rgba(40,69,95,0.5); vertical-align: top; }
+      .context-value { max-height: 60px; overflow-y: auto; color: #a0c4ff; word-break: break-all; }
+
+      /* Common panel select controls */
+      .panel-controls { display: flex; gap: 8px; align-items: center; flex-wrap: wrap; }
+      .panel-controls select, .panel-controls input[type="number"] {
+        background: var(--bg); color: var(--fg); border: 1px solid var(--border);
+        border-radius: 4px; padding: 4px 8px; font-size: 13px; font-family: inherit;
+      }
+      .panel-date { color: var(--muted); font-size: 12px; }
+      .empty-msg { color: var(--muted); text-align: center; padding: 20px 0; font-size: 12px; }
+    </style>
+  </head>
+  <body>
+    <div class="wrap">
+      <!-- Header -->
+      <header>
+        <h1>&#x1F40D; The Ouroboros</h1>
+        <div class="header-right">
+          <span class="mode-badge" id="mode-badge">--</span>
+          <div class="cb-gauge-wrap" id="cb-gauge" title="Circuit Breaker">
+            <span class="cb-dot unknown" id="cb-dot"></span>
+            <span id="cb-label">CB --</span>
+            <div class="cb-bar-wrap">
+              <div class="cb-bar-fill" id="cb-bar" style="width:0%;background:var(--accent)"></div>
+            </div>
+          </div>
+          <span id="last-updated">--</span>
+          <button class="refresh-btn" onclick="refreshAll()">&#x21BA; 새로고침</button>
+        </div>
+      </header>
+
+      <!-- Summary cards -->
+      <div class="cards">
+        <div class="card">
+          <div class="card-label">오늘 거래</div>
+          <div class="card-value neutral" id="card-trades">--</div>
+          <div class="card-sub" id="card-trades-sub">거래 건수</div>
+        </div>
+        <div class="card">
+          <div class="card-label">오늘 P&amp;L</div>
+          <div class="card-value" id="card-pnl">--</div>
+          <div class="card-sub" id="card-pnl-sub">실현 손익</div>
+        </div>
+        <div class="card">
+          <div class="card-label">승률</div>
+          <div class="card-value neutral" id="card-winrate">--</div>
+          <div class="card-sub">전체 누적</div>
+        </div>
+        <div class="card">
+          <div class="card-label">누적 거래</div>
+          <div class="card-value neutral" id="card-total">--</div>
+          <div class="card-sub">전체 기간</div>
+        </div>
+      </div>
+
+      <!-- Open Positions -->
+      <div class="positions-panel">
+        <div class="panel-header">
+          <span class="panel-title">
+            현재 보유 포지션
+            <span class="pos-count" id="positions-count">0</span>
+          </span>
+        </div>
+        <table class="positions-table">
+          <thead>
+            <tr>
+              <th>종목</th>
+              <th>시장</th>
+              <th>수량</th>
+              <th>진입가</th>
+              <th>보유 시간</th>
+            </tr>
+          </thead>
+          <tbody id="positions-body">
+            <tr><td colspan="5" class="pos-empty"><span class="spinner"></span></td></tr>
+          </tbody>
+        </table>
+      </div>
+
+      <!-- P&L Chart -->
+      <div class="chart-panel">
+        <div class="panel-header">
+          <span class="panel-title">P&amp;L 추이</span>
+          <div class="days-selector">
+            <button class="day-btn active" data-days="7" onclick="selectDays(this)">7일</button>
+            <button class="day-btn" data-days="30" onclick="selectDays(this)">30일</button>
+            <button class="day-btn" data-days="90" onclick="selectDays(this)">90일</button>
+          </div>
+        </div>
+        <div class="chart-container">
+          <canvas id="pnl-chart"></canvas>
+          <div class="chart-error" id="chart-error" style="display:none">데이터 없음</div>
+        </div>
+      </div>
+
+      <!-- Decisions log -->
+      <div class="decisions-panel">
+        <div class="panel-header">
+          <span class="panel-title">최근 결정 로그</span>
+          <div class="market-tabs" id="market-tabs">
+            <button class="tab-btn active" data-market="KR" onclick="selectMarket(this)">KR</button>
+            <button class="tab-btn" data-market="US_NASDAQ" onclick="selectMarket(this)">US_NASDAQ</button>
+            <button class="tab-btn" data-market="US_NYSE" onclick="selectMarket(this)">US_NYSE</button>
+            <button class="tab-btn" data-market="JP" onclick="selectMarket(this)">JP</button>
+            <button class="tab-btn" data-market="HK" onclick="selectMarket(this)">HK</button>
+          </div>
+        </div>
+        <table class="decisions-table">
+          <thead>
+            <tr>
+              <th>시각</th>
+              <th>종목</th>
+              <th>액션</th>
+              <th>신뢰도</th>
+              <th>사유</th>
+            </tr>
+          </thead>
+          <tbody id="decisions-body">
+            <tr class="empty-row"><td colspan="5"><span class="spinner"></span></td></tr>
+          </tbody>
+        </table>
+      </div>
+
+      <!-- playbook panel -->
+      <div class="panel playbook-panel">
+        <div class="panel-header">
+          <span class="panel-title">&#x1F4CB; 프리마켓 플레이북</span>
+          <div class="panel-controls">
+            <select id="pb-market-select" onchange="fetchPlaybook()">
+              <option value="KR">KR</option>
+              <option value="US_NASDAQ">US_NASDAQ</option>
+              <option value="US_NYSE">US_NYSE</option>
+            </select>
+            <span id="pb-date" class="panel-date"></span>
+          </div>
+        </div>
+        <div id="playbook-content"><p class="empty-msg">데이터 없음</p></div>
+      </div>
+
+      <!-- scorecard panel -->
+      <div class="panel">
+        <div class="panel-header">
+          <span class="panel-title">&#x1F4CA; 일간 스코어카드</span>
+          <div class="panel-controls">
+            <select id="sc-market-select" onchange="fetchScorecard()">
+              <option value="KR">KR</option>
+              <option value="US_NASDAQ">US_NASDAQ</option>
+            </select>
+            <span id="sc-date" class="panel-date"></span>
+          </div>
+        </div>
+        <div id="scorecard-grid" class="scorecard-grid"><p class="empty-msg">데이터 없음</p></div>
+      </div>
+
+      <!-- scenarios panel -->
+      <div class="panel">
+        <div class="panel-header">
+          <span class="panel-title">&#x1F3AF; 활성 시나리오 매칭</span>
+          <div class="panel-controls">
+            <select id="scen-market-select" onchange="fetchScenarios()">
+              <option value="KR">KR</option>
+              <option value="US_NASDAQ">US_NASDAQ</option>
+            </select>
+          </div>
+        </div>
+        <div id="scenarios-content"><p class="empty-msg">데이터 없음</p></div>
+      </div>
+
+      <!-- context layer panel -->
+      <div class="panel">
+        <div class="panel-header">
+          <span class="panel-title">&#x1F9E0; 컨텍스트 트리</span>
+          <div class="panel-controls">
+            <select id="ctx-layer-select" onchange="fetchContext()">
+              <option value="L7_REALTIME">L7_REALTIME</option>
+              <option value="L6_DAILY">L6_DAILY</option>
+              <option value="L5_WEEKLY">L5_WEEKLY</option>
+              <option value="L4_MONTHLY">L4_MONTHLY</option>
+              <option value="L3_QUARTERLY">L3_QUARTERLY</option>
+              <option value="L2_YEARLY">L2_YEARLY</option>
+              <option value="L1_LIFETIME">L1_LIFETIME</option>
+            </select>
+            <input id="ctx-limit" type="number" value="20" min="1" max="200"
+                   style="width:60px;" onchange="fetchContext()">
+          </div>
+        </div>
+        <div id="context-content"><p class="empty-msg">데이터 없음</p></div>
+      </div>
+    </div>
+
+    <script>
+      let pnlChart = null;
+      let currentDays = 7;
+      let currentMarket = 'KR';
+
+      function fmt(dt) {
+        try {
+          const d = new Date(dt);
+          return d.toLocaleTimeString('ko-KR', { hour: '2-digit', minute: '2-digit', hour12: false });
+        } catch { return dt || '--'; }
+      }
+
+      function fmtPnl(v) {
+        if (v === null || v === undefined) return '--';
+        const n = parseFloat(v);
+        const cls = n > 0 ? 'positive' : n < 0 ? 'negative' : 'neutral';
+        const sign = n > 0 ? '+' : '';
+        return `<span class="${cls}">${sign}${n.toFixed(2)}</span>`;
+      }
+
+      function badge(action) {
+        const a = (action || '').toUpperCase();
+        const cls = a === 'BUY' ? 'badge-buy' : a === 'SELL' ? 'badge-sell' : 'badge-hold';
+        return `<span class="badge ${cls}">${a}</span>`;
+      }
+
+      function confBar(conf) {
+        const pct = Math.min(Math.max(conf || 0, 0), 100);
+        return `<div class="conf-bar-wrap">
+          <div class="conf-bar"><div class="conf-fill" style="width:${pct}%"></div></div>
+          <span class="conf-val">${pct}</span>
+        </div>`;
+      }
+
+      function fmtPrice(v, market) {
+        if (v === null || v === undefined) return '--';
+        const n = parseFloat(v);
+        const sym = market === 'KR' ? '₩' : market === 'JP' ? '¥' : market === 'HK' ? 'HK$' : '$';
+        return sym + n.toLocaleString('en-US', { minimumFractionDigits: 0, maximumFractionDigits: 4 });
+      }
+
+      async function fetchPositions() {
+        const tbody = document.getElementById('positions-body');
+        const countEl = document.getElementById('positions-count');
+        try {
+          const r = await fetch('/api/positions');
+          if (!r.ok) throw new Error('fetch failed');
+          const d = await r.json();
+          countEl.textContent = d.count ?? 0;
+          if (!d.positions || d.positions.length === 0) {
+            tbody.innerHTML = '<tr><td colspan="5" class="pos-empty">현재 보유 중인 포지션 없음</td></tr>';
+            return;
+          }
+          tbody.innerHTML = d.positions.map(p => `
+            <tr>
+              <td><strong>${p.stock_code || '--'}</strong></td>
+              <td><span style="color:var(--muted);font-size:11px">${p.market || '--'}</span></td>
+              <td>${p.quantity ?? '--'}</td>
+              <td>${fmtPrice(p.entry_price, p.market)}</td>
+              <td style="color:var(--muted);font-size:11px">${p.held || '--'}</td>
+            </tr>
+          `).join('');
+        } catch {
+          tbody.innerHTML = '<tr><td colspan="5" class="pos-empty">데이터 로드 실패</td></tr>';
+        }
+      }
+
+      function renderCbGauge(cb) {
+        if (!cb) return;
+        const dot = document.getElementById('cb-dot');
+        const label = document.getElementById('cb-label');
+        const bar = document.getElementById('cb-bar');
+
+        const status = cb.status || 'unknown';
+        const threshold = cb.threshold_pct ?? -3.0;
+        const current = cb.current_pnl_pct;
+
+        // dot color
+        dot.className = `cb-dot ${status}`;
+
+        // label
+        if (current !== null && current !== undefined) {
+          const sign = current > 0 ? '+' : '';
+          label.textContent = `CB ${sign}${current.toFixed(2)}%`;
+        } else {
+          label.textContent = 'CB --';
+        }
+
+        // bar: fill = how much of the threshold has been consumed (0%=safe, 100%=tripped)
+        const colorMap = { ok: 'var(--accent)', warning: 'var(--warn)', tripped: 'var(--red)', unknown: 'var(--border)' };
+        bar.style.background = colorMap[status] || 'var(--border)';
+        if (current !== null && current !== undefined && threshold < 0) {
+          const fillPct = Math.min(Math.max((current / threshold) * 100, 0), 100);
+          bar.style.width = `${fillPct}%`;
+        } else {
+          bar.style.width = '0%';
+        }
+      }
+
+      async function fetchStatus() {
+        try {
+          const r = await fetch('/api/status');
+          if (!r.ok) return;
+          const d = await r.json();
+          const t = d.totals || {};
+          document.getElementById('card-trades').textContent = t.trade_count ?? '--';
+          const pnlEl = document.getElementById('card-pnl');
+          const pnlV = t.total_pnl;
+          if (pnlV !== undefined) {
+            const n = parseFloat(pnlV);
+            const sign = n > 0 ? '+' : '';
+            pnlEl.textContent = `${sign}${n.toFixed(2)}`;
+            pnlEl.className = `card-value ${n > 0 ? 'positive' : n < 0 ? 'negative' : 'neutral'}`;
+          }
+          document.getElementById('card-pnl-sub').textContent = `결정 ${t.decision_count ?? 0}건`;
+          renderCbGauge(d.circuit_breaker);
+          renderModeBadge(d.mode);
+        } catch {}
+      }
+
+      function renderModeBadge(mode) {
+        const el = document.getElementById('mode-badge');
+        if (!el) return;
+        if (mode === 'live') {
+          el.textContent = '🔴 실전투자';
+          el.className = 'mode-badge live';
+        } else {
+          el.textContent = '🟡 모의투자';
+          el.className = 'mode-badge paper';
+        }
+      }
+
+      async function fetchPerformance() {
+        try {
+          const r = await fetch('/api/performance?market=all');
+          if (!r.ok) return;
+          const d = await r.json();
+          const c = d.combined || {};
+          document.getElementById('card-winrate').textContent = c.win_rate !== undefined ? `${c.win_rate}%` : '--';
+          document.getElementById('card-total').textContent = c.total_trades ?? '--';
+        } catch {}
+      }
+
+      async function fetchPnlHistory(days) {
+        try {
+          const r = await fetch(`/api/pnl/history?days=${days}`);
+          if (!r.ok) throw new Error('fetch failed');
+          const d = await r.json();
+          renderChart(d);
+        } catch {
+          document.getElementById('chart-error').style.display = 'block';
+        }
+      }
+
+      function renderChart(data) {
+        const errEl = document.getElementById('chart-error');
+        if (!data.labels || data.labels.length === 0) {
+          errEl.style.display = 'block';
+          return;
+        }
+        errEl.style.display = 'none';
+
+        const colors = data.pnl.map(v => v >= 0 ? 'rgba(60,179,113,0.75)' : 'rgba(224,85,85,0.75)');
+        const borderColors = data.pnl.map(v => v >= 0 ? '#3cb371' : '#e05555');
+
+        if (pnlChart) { pnlChart.destroy(); pnlChart = null; }
+        const ctx = document.getElementById('pnl-chart').getContext('2d');
+        pnlChart = new Chart(ctx, {
+          type: 'bar',
+          data: {
+            labels: data.labels,
+            datasets: [{
+              label: 'Daily P&L',
+              data: data.pnl,
+              backgroundColor: colors,
+              borderColor: borderColors,
+              borderWidth: 1,
+              borderRadius: 3,
+            }]
+          },
+          options: {
+            responsive: true,
+            maintainAspectRatio: false,
+            plugins: {
+              legend: { display: false },
+              tooltip: {
+                callbacks: {
+                  label: ctx => {
+                    const v = ctx.parsed.y;
+                    const sign = v >= 0 ? '+' : '';
+                    const trades = data.trades[ctx.dataIndex];
+                    return [`P&L: ${sign}${v.toFixed(2)}`, `거래: ${trades}건`];
+                  }
+                }
+              }
+            },
+            scales: {
+              x: {
+                ticks: { color: '#9fb3c8', font: { size: 10 }, maxRotation: 0 },
+                grid: { color: 'rgba(40,69,95,0.4)' }
+              },
+              y: {
+                ticks: { color: '#9fb3c8', font: { size: 10 } },
+                grid: { color: 'rgba(40,69,95,0.4)' }
+              }
+            }
+          }
+        });
+      }
+
+      async function fetchDecisions(market) {
+        const tbody = document.getElementById('decisions-body');
+        tbody.innerHTML = '<tr class="empty-row"><td colspan="5"><span class="spinner"></span></td></tr>';
+        try {
+          const r = await fetch(`/api/decisions?market=${market}&limit=50`);
+          if (!r.ok) throw new Error('fetch failed');
+          const d = await r.json();
+          if (!d.decisions || d.decisions.length === 0) {
+            tbody.innerHTML = '<tr class="empty-row"><td colspan="5">결정 로그 없음</td></tr>';
+            return;
+          }
+          tbody.innerHTML = d.decisions.map(dec => `
+            <tr>
+              <td>${fmt(dec.timestamp)}</td>
+              <td>${dec.stock_code || '--'}</td>
+              <td>${badge(dec.action)}</td>
+              <td>${confBar(dec.confidence)}</td>
+              <td class="rationale-cell" title="${(dec.rationale || '').replace(/"/g, '&quot;')}">${dec.rationale || '--'}</td>
+            </tr>
+          `).join('');
+        } catch {
+          tbody.innerHTML = '<tr class="empty-row"><td colspan="5">데이터 로드 실패</td></tr>';
+        }
+      }
+
+      function selectDays(btn) {
+        document.querySelectorAll('.day-btn').forEach(b => b.classList.remove('active'));
+        btn.classList.add('active');
+        currentDays = parseInt(btn.dataset.days, 10);
+        fetchPnlHistory(currentDays);
+      }
+
+      function selectMarket(btn) {
+        document.querySelectorAll('.tab-btn').forEach(b => b.classList.remove('active'));
+        btn.classList.add('active');
+        currentMarket = btn.dataset.market;
+        fetchDecisions(currentMarket);
+      }
+
+      function todayStr() {
+        return new Date().toISOString().slice(0, 10);
+      }
+
+      function esc(s) {
+        return String(s ?? '').replace(/&/g, '&amp;').replace(/</g, '&lt;').replace(/>/g, '&gt;').replace(/"/g, '&quot;');
+      }
+
+      async function fetchJSON(url) {
+        const r = await fetch(url);
+        if (!r.ok) throw new Error(`HTTP ${r.status}`);
+        return r.json();
+      }
+
+      async function fetchPlaybook() {
+        const market = document.getElementById('pb-market-select').value;
+        const date = todayStr();
+        document.getElementById('pb-date').textContent = date;
+        const el = document.getElementById('playbook-content');
+        try {
+          const data = await fetchJSON(`/api/playbook/${date}?market=${market}`);
+          const stocks = data.stock_playbooks ?? [];
+          if (stocks.length === 0) {
+            el.innerHTML = '<p class="empty-msg">오늘 플레이북 없음</p>';
+            return;
+          }
+          el.innerHTML = stocks.map(sp =>
+            `<details><summary>${esc(sp.stock_code ?? '?')} — ${esc(sp.signal ?? '')}</summary>` +
+            `<pre>${esc(JSON.stringify(sp, null, 2))}</pre></details>`
+          ).join('');
+        } catch {
+          el.innerHTML = '<p class="empty-msg">플레이북 없음 (오늘 미생성 또는 API 오류)</p>';
+        }
+      }
+
+      async function fetchScorecard() {
+        const market = document.getElementById('sc-market-select').value;
+        const date = todayStr();
+        document.getElementById('sc-date').textContent = date;
+        const el = document.getElementById('scorecard-grid');
+        try {
+          const data = await fetchJSON(`/api/scorecard/${date}?market=${market}`);
+          const sc = data.scorecard ?? {};
+          const entries = Object.entries(sc);
+          if (entries.length === 0) {
+            el.innerHTML = '<p class="empty-msg">스코어카드 없음</p>';
+            return;
+          }
+          el.className = 'scorecard-grid';
+          el.innerHTML = entries.map(([k, v]) => `
+            <div class="kpi-card">
+              <div class="kpi-label">${esc(k)}</div>
+              <div class="kpi-value">${typeof v === 'number' ? v.toFixed(2) : esc(String(v))}</div>
+            </div>`).join('');
+        } catch {
+          el.innerHTML = '<p class="empty-msg">스코어카드 없음 (오늘 미생성 또는 API 오류)</p>';
+        }
+      }
+
+      async function fetchScenarios() {
+        const market = document.getElementById('scen-market-select').value;
+        const date = todayStr();
+        const el = document.getElementById('scenarios-content');
+        try {
+          const data = await fetchJSON(`/api/scenarios/active?market=${market}&date_str=${date}&limit=50`);
+          const matches = data.matches ?? [];
+          if (matches.length === 0) {
+            el.innerHTML = '<p class="empty-msg">활성 시나리오 없음</p>';
+            return;
+          }
+          el.innerHTML = `<table class="scenarios-table">
+            <thead><tr><th>종목</th><th>신호</th><th>신뢰도</th><th>매칭 조건</th></tr></thead>
+            <tbody>${matches.map(m => `
+              <tr>
+                <td>${esc(m.stock_code)}</td>
+                <td>${esc(m.signal ?? '-')}</td>
+                <td>${esc(m.confidence ?? '-')}</td>
+                <td><code style="font-size:11px">${esc(JSON.stringify(m.scenario_match ?? {}))}</code></td>
+              </tr>`).join('')}
+            </tbody></table>`;
+        } catch {
+          el.innerHTML = '<p class="empty-msg">데이터 없음</p>';
+        }
+      }
+
+      async function fetchContext() {
+        const layer = document.getElementById('ctx-layer-select').value;
+        const limit = Math.min(Math.max(parseInt(document.getElementById('ctx-limit').value, 10) || 20, 1), 200);
+        const el = document.getElementById('context-content');
+        try {
+          const data = await fetchJSON(`/api/context/${layer}?limit=${limit}`);
+          const entries = data.entries ?? [];
+          if (entries.length === 0) {
+            el.innerHTML = '<p class="empty-msg">컨텍스트 없음</p>';
+            return;
+          }
+          el.innerHTML = `<table class="context-table">
+            <thead><tr><th>timeframe</th><th>key</th><th>value</th><th>updated</th></tr></thead>
+            <tbody>${entries.map(e => `
+              <tr>
+                <td>${esc(e.timeframe)}</td>
+                <td>${esc(e.key)}</td>
+                <td><div class="context-value">${esc(JSON.stringify(e.value ?? e.raw_value))}</div></td>
+                <td style="font-size:11px;color:var(--muted)">${esc((e.updated_at ?? '').slice(0, 16))}</td>
+              </tr>`).join('')}
+            </tbody></table>`;
+        } catch {
+          el.innerHTML = '<p class="empty-msg">데이터 없음</p>';
+        }
+      }
+
+      async function refreshAll() {
+        document.getElementById('last-updated').textContent = '업데이트 중...';
+        await Promise.all([
+          fetchStatus(),
+          fetchPerformance(),
+          fetchPositions(),
+          fetchPnlHistory(currentDays),
+          fetchDecisions(currentMarket),
+          fetchPlaybook(),
+          fetchScorecard(),
+          fetchScenarios(),
+          fetchContext(),
+        ]);
+        const now = new Date();
+        const timeStr = now.toLocaleTimeString('ko-KR', { hour: '2-digit', minute: '2-digit', second: '2-digit', hour12: false });
+        document.getElementById('last-updated').textContent = `마지막 업데이트: ${timeStr}`;
+      }
+
+      // Initial load
+      refreshAll();
+
+      // Auto-refresh every 30 seconds
+      setInterval(refreshAll, 30000);
+    </script>
+  </body>
+</html>

src/db.py

@@ -14,6 +14,11 @@ def init_db(db_path: str) -> sqlite3.Connection:
     if db_path != ":memory:":
         Path(db_path).parent.mkdir(parents=True, exist_ok=True)
     conn = sqlite3.connect(db_path)
+    # Enable WAL mode for concurrent read/write (dashboard + trading loop).
+    # WAL does not apply to in-memory databases.
+    if db_path != ":memory:":
+        conn.execute("PRAGMA journal_mode=WAL")
+        conn.execute("PRAGMA busy_timeout=5000")
     conn.execute(
         """
         CREATE TABLE IF NOT EXISTS trades (
@@ -26,14 +31,19 @@ def init_db(db_path: str) -> sqlite3.Connection:
             quantity INTEGER,
             price REAL,
             pnl REAL DEFAULT 0.0,
+            strategy_pnl REAL DEFAULT 0.0,
+            fx_pnl REAL DEFAULT 0.0,
             market TEXT DEFAULT 'KR',
             exchange_code TEXT DEFAULT 'KRX',
-            decision_id TEXT
+            session_id TEXT DEFAULT 'UNKNOWN',
+            selection_context TEXT,
+            decision_id TEXT,
+            mode TEXT DEFAULT 'paper'
         )
         """
     )
 
-    # Migration: Add market and exchange_code columns if they don't exist
+    # Migration: Add columns if they don't exist (backward-compatible schema upgrades)
     cursor = conn.execute("PRAGMA table_info(trades)")
     columns = {row[1] for row in cursor.fetchall()}
 
@@ -45,6 +55,34 @@ def init_db(db_path: str) -> sqlite3.Connection:
         conn.execute("ALTER TABLE trades ADD COLUMN selection_context TEXT")
     if "decision_id" not in columns:
         conn.execute("ALTER TABLE trades ADD COLUMN decision_id TEXT")
+    if "mode" not in columns:
+        conn.execute("ALTER TABLE trades ADD COLUMN mode TEXT DEFAULT 'paper'")
+    session_id_added = False
+    if "session_id" not in columns:
+        conn.execute("ALTER TABLE trades ADD COLUMN session_id TEXT DEFAULT 'UNKNOWN'")
+        session_id_added = True
+    if "strategy_pnl" not in columns:
+        conn.execute("ALTER TABLE trades ADD COLUMN strategy_pnl REAL DEFAULT 0.0")
+    if "fx_pnl" not in columns:
+        conn.execute("ALTER TABLE trades ADD COLUMN fx_pnl REAL DEFAULT 0.0")
+    # Backfill legacy rows where only pnl existed before split accounting columns.
+    conn.execute(
+        """
+        UPDATE trades
+        SET strategy_pnl = pnl, fx_pnl = 0.0
+        WHERE pnl != 0.0
+          AND strategy_pnl = 0.0
+          AND fx_pnl = 0.0
+        """
+    )
+    if session_id_added:
+        conn.execute(
+            """
+            UPDATE trades
+            SET session_id = 'UNKNOWN'
+            WHERE session_id IS NULL OR session_id = ''
+            """
+        )
 
     # Context tree tables for multi-layered memory management
     conn.execute(
@@ -131,6 +169,25 @@ def init_db(db_path: str) -> sqlite3.Connection:
     conn.execute(
         "CREATE INDEX IF NOT EXISTS idx_decision_logs_confidence ON decision_logs(confidence)"
     )
+
+    # Index for open-position queries (partition by stock_code, market, ordered by timestamp)
+    conn.execute(
+        "CREATE INDEX IF NOT EXISTS idx_trades_stock_market_ts"
+        " ON trades (stock_code, market, timestamp DESC)"
+    )
+
+    # Lightweight key-value store for trading system runtime metrics (dashboard use only)
+    # Intentionally separate from the AI context tree to preserve separation of concerns.
+    conn.execute(
+        """
+        CREATE TABLE IF NOT EXISTS system_metrics (
+            key        TEXT PRIMARY KEY,
+            value      TEXT NOT NULL,
+            updated_at TEXT NOT NULL
+        )
+        """
+    )
+
     conn.commit()
     return conn
 
@@ -144,10 +201,14 @@ def log_trade(
     quantity: int = 0,
     price: float = 0.0,
     pnl: float = 0.0,
+    strategy_pnl: float | None = None,
+    fx_pnl: float | None = None,
     market: str = "KR",
     exchange_code: str = "KRX",
+    session_id: str | None = None,
     selection_context: dict[str, any] | None = None,
     decision_id: str | None = None,
+    mode: str = "paper",
 ) -> None:
     """Insert a trade record into the database.
 
@@ -159,21 +220,37 @@ def log_trade(
         rationale: AI decision rationale
         quantity: Number of shares
         price: Trade price
-        pnl: Profit/loss
+        pnl: Total profit/loss (backward compatibility)
+        strategy_pnl: Strategy PnL component
+        fx_pnl: FX PnL component
         market: Market code
         exchange_code: Exchange code
+        session_id: Session identifier (if omitted, auto-derived from market)
         selection_context: Scanner selection data (RSI, volume_ratio, signal, score)
+        decision_id: Unique decision identifier for audit linking
+        mode: Trading mode ('paper' or 'live') for data separation
     """
     # Serialize selection context to JSON
     context_json = json.dumps(selection_context) if selection_context else None
+    resolved_session_id = _resolve_session_id(market=market, session_id=session_id)
+    if strategy_pnl is None and fx_pnl is None:
+        strategy_pnl = pnl
+        fx_pnl = 0.0
+    elif strategy_pnl is None:
+        strategy_pnl = pnl - float(fx_pnl or 0.0) if pnl != 0.0 else 0.0
+    elif fx_pnl is None:
+        fx_pnl = pnl - float(strategy_pnl) if pnl != 0.0 else 0.0
+    if pnl == 0.0 and (strategy_pnl or fx_pnl):
+        pnl = float(strategy_pnl) + float(fx_pnl)
 
     conn.execute(
         """
         INSERT INTO trades (
             timestamp, stock_code, action, confidence, rationale,
-            quantity, price, pnl, market, exchange_code, selection_context, decision_id
+            quantity, price, pnl, strategy_pnl, fx_pnl,
+            market, exchange_code, session_id, selection_context, decision_id, mode
         )
-        VALUES (?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?)
+        VALUES (?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?)
         """,
         (
             datetime.now(UTC).isoformat(),
@@ -184,15 +261,34 @@ def log_trade(
             quantity,
             price,
             pnl,
+            strategy_pnl,
+            fx_pnl,
             market,
             exchange_code,
+            resolved_session_id,
             context_json,
             decision_id,
+            mode,
         ),
     )
     conn.commit()
 
 
+def _resolve_session_id(*, market: str, session_id: str | None) -> str:
+    if session_id:
+        return session_id
+    try:
+        from src.core.order_policy import classify_session_id
+        from src.markets.schedule import MARKETS
+
+        market_info = MARKETS.get(market)
+        if market_info is not None:
+            return classify_session_id(market_info)
+    except Exception:
+        pass
+    return "UNKNOWN"
+
+
 def get_latest_buy_trade(
     conn: sqlite3.Connection, stock_code: str, market: str
 ) -> dict[str, Any] | None:
@@ -214,3 +310,43 @@ def get_latest_buy_trade(
     if not row:
         return None
     return {"decision_id": row[0], "price": row[1], "quantity": row[2]}
+
+
+def get_open_position(
+    conn: sqlite3.Connection, stock_code: str, market: str
+) -> dict[str, Any] | None:
+    """Return open position if latest trade is BUY, else None."""
+    cursor = conn.execute(
+        """
+        SELECT action, decision_id, price, quantity, timestamp
+        FROM trades
+        WHERE stock_code = ?
+          AND market = ?
+          AND action IN ('BUY', 'SELL')
+        ORDER BY timestamp DESC
+        LIMIT 1
+        """,
+        (stock_code, market),
+    )
+    row = cursor.fetchone()
+    if not row or row[0] != "BUY":
+        return None
+    return {"decision_id": row[1], "price": row[2], "quantity": row[3], "timestamp": row[4]}
+
+
+def get_recent_symbols(
+    conn: sqlite3.Connection, market: str, limit: int = 30
+) -> list[str]:
+    """Return recent unique symbols for a market, newest first."""
+    cursor = conn.execute(
+        """
+        SELECT stock_code, MAX(timestamp) AS last_ts
+        FROM trades
+        WHERE market = ?
+        GROUP BY stock_code
+        ORDER BY last_ts DESC
+        LIMIT ?
+        """,
+        (market, limit),
+    )
+    return [row[0] for row in cursor.fetchall() if row and row[0]]

src/markets/schedule.py

@@ -123,6 +123,23 @@ MARKETS: dict[str, MarketInfo] = {
     ),
 }
 
+MARKET_SHORTHAND: dict[str, list[str]] = {
+    "US": ["US_NASDAQ", "US_NYSE", "US_AMEX"],
+    "CN": ["CN_SHA", "CN_SZA"],
+    "VN": ["VN_HAN", "VN_HCM"],
+}
+
+
+def expand_market_codes(codes: list[str]) -> list[str]:
+    """Expand shorthand market codes into concrete exchange market codes."""
+    expanded: list[str] = []
+    for code in codes:
+        if code in MARKET_SHORTHAND:
+            expanded.extend(MARKET_SHORTHAND[code])
+        else:
+            expanded.append(code)
+    return expanded
+
 
 def is_market_open(market: MarketInfo, now: datetime | None = None) -> bool:
     """

src/notifications/telegram_client.py

@@ -4,8 +4,9 @@ import asyncio
 import logging
 import time
 from collections.abc import Awaitable, Callable
-from dataclasses import dataclass
+from dataclasses import dataclass, fields
 from enum import Enum
+from typing import ClassVar
 
 import aiohttp
 
@@ -58,6 +59,45 @@ class LeakyBucket:
                 self._tokens -= 1.0
 
 
+@dataclass
+class NotificationFilter:
+    """Granular on/off flags for each notification type.
+
+    circuit_breaker is intentionally omitted — it is always sent regardless.
+    """
+
+    # Maps user-facing command keys to dataclass field names
+    KEYS: ClassVar[dict[str, str]] = {
+        "trades": "trades",
+        "market": "market_open_close",
+        "fatfinger": "fat_finger",
+        "system": "system_events",
+        "playbook": "playbook",
+        "scenario": "scenario_match",
+        "errors": "errors",
+    }
+
+    trades: bool = True
+    market_open_close: bool = True
+    fat_finger: bool = True
+    system_events: bool = True
+    playbook: bool = True
+    scenario_match: bool = True
+    errors: bool = True
+
+    def set_flag(self, key: str, value: bool) -> bool:
+        """Set a filter flag by user-facing key. Returns False if key is unknown."""
+        field = self.KEYS.get(key.lower())
+        if field is None:
+            return False
+        setattr(self, field, value)
+        return True
+
+    def as_dict(self) -> dict[str, bool]:
+        """Return {user_key: current_value} for display."""
+        return {k: getattr(self, field) for k, field in self.KEYS.items()}
+
+
 @dataclass
 class NotificationMessage:
     """Internal notification message structure."""
@@ -79,6 +119,7 @@ class TelegramClient:
         chat_id: str | None = None,
         enabled: bool = True,
         rate_limit: float = DEFAULT_RATE,
+        notification_filter: NotificationFilter | None = None,
     ) -> None:
         """
         Initialize Telegram client.
@@ -88,12 +129,14 @@ class TelegramClient:
             chat_id: Target chat ID (user or group)
             enabled: Enable/disable notifications globally
             rate_limit: Maximum messages per second
+            notification_filter: Granular per-type on/off flags
         """
         self._bot_token = bot_token
         self._chat_id = chat_id
         self._enabled = enabled
         self._rate_limiter = LeakyBucket(rate=rate_limit)
         self._session: aiohttp.ClientSession | None = None
+        self._filter = notification_filter if notification_filter is not None else NotificationFilter()
 
         if not enabled:
             logger.info("Telegram notifications disabled via configuration")
@@ -118,6 +161,26 @@ class TelegramClient:
         if self._session is not None and not self._session.closed:
             await self._session.close()
 
+    def set_notification(self, key: str, value: bool) -> bool:
+        """Toggle a notification type by user-facing key at runtime.
+
+        Args:
+            key: User-facing key (e.g. "scenario", "market", "all")
+            value: True to enable, False to disable
+
+        Returns:
+            True if key was valid, False if unknown.
+        """
+        if key == "all":
+            for k in NotificationFilter.KEYS:
+                self._filter.set_flag(k, value)
+            return True
+        return self._filter.set_flag(key, value)
+
+    def filter_status(self) -> dict[str, bool]:
+        """Return current per-type filter state keyed by user-facing names."""
+        return self._filter.as_dict()
+
     async def send_message(self, text: str, parse_mode: str = "HTML") -> bool:
         """
         Send a generic text message to Telegram.
@@ -193,6 +256,8 @@ class TelegramClient:
             price: Execution price
             confidence: AI confidence level (0-100)
         """
+        if not self._filter.trades:
+            return
         emoji = "🟢" if action == "BUY" else "🔴"
         message = (
             f"<b>{emoji} {action}</b>\n"
@@ -212,6 +277,8 @@ class TelegramClient:
         Args:
             market_name: Name of the market (e.g., "Korea", "United States")
         """
+        if not self._filter.market_open_close:
+            return
         message = f"<b>Market Open</b>\n{market_name} trading session started"
         await self._send_notification(
             NotificationMessage(priority=NotificationPriority.LOW, message=message)
@@ -225,6 +292,8 @@ class TelegramClient:
             market_name: Name of the market
             pnl_pct: Final P&L percentage for the session
         """
+        if not self._filter.market_open_close:
+            return
         pnl_sign = "+" if pnl_pct >= 0 else ""
         pnl_emoji = "📈" if pnl_pct >= 0 else "📉"
         message = (
@@ -271,6 +340,8 @@ class TelegramClient:
             total_cash: Total available cash
             max_pct: Maximum allowed percentage
         """
+        if not self._filter.fat_finger:
+            return
         attempted_pct = (order_amount / total_cash) * 100 if total_cash > 0 else 0
         message = (
             f"<b>Fat-Finger Protection</b>\n"
@@ -293,6 +364,8 @@ class TelegramClient:
             mode: Trading mode ("paper" or "live")
             enabled_markets: List of enabled market codes
         """
+        if not self._filter.system_events:
+            return
         mode_emoji = "📝" if mode == "paper" else "💰"
         markets_str = ", ".join(enabled_markets)
         message = (
@@ -320,6 +393,8 @@ class TelegramClient:
             scenario_count: Total number of scenarios
             token_count: Gemini token usage for the playbook
         """
+        if not self._filter.playbook:
+            return
         message = (
             f"<b>Playbook Generated</b>\n"
             f"Market: {market}\n"
@@ -347,6 +422,8 @@ class TelegramClient:
             condition_summary: Short summary of the matched condition
             confidence: Scenario confidence (0-100)
         """
+        if not self._filter.scenario_match:
+            return
         message = (
             f"<b>Scenario Matched</b>\n"
             f"Symbol: <code>{stock_code}</code>\n"
@@ -366,6 +443,8 @@ class TelegramClient:
             market: Market code (e.g., "KR", "US")
             reason: Failure reason summary
         """
+        if not self._filter.playbook:
+            return
         message = (
             f"<b>Playbook Failed</b>\n"
             f"Market: {market}\n"
@@ -382,6 +461,8 @@ class TelegramClient:
         Args:
             reason: Reason for shutdown (e.g., "Normal shutdown", "Circuit breaker")
         """
+        if not self._filter.system_events:
+            return
         message = f"<b>System Shutdown</b>\n{reason}"
         priority = (
             NotificationPriority.CRITICAL
@@ -392,6 +473,48 @@ class TelegramClient:
             NotificationMessage(priority=priority, message=message)
         )
 
+    async def notify_unfilled_order(
+        self,
+        stock_code: str,
+        market: str,
+        action: str,
+        quantity: int,
+        outcome: str,
+        new_price: float | None = None,
+    ) -> None:
+        """Notify about an unfilled overseas order that was cancelled or resubmitted.
+
+        Args:
+            stock_code: Stock ticker symbol.
+            market: Exchange/market code (e.g., "NASD", "SEHK").
+            action: "BUY" or "SELL".
+            quantity: Unfilled quantity.
+            outcome: "cancelled" or "resubmitted".
+            new_price: New order price if resubmitted (None if only cancelled).
+        """
+        if not self._filter.trades:
+            return
+        # SELL resubmit is high priority — position liquidation at risk.
+        # BUY cancel is medium priority — only cash is freed.
+        priority = (
+            NotificationPriority.HIGH
+            if action == "SELL"
+            else NotificationPriority.MEDIUM
+        )
+        outcome_emoji = "🔄" if outcome == "resubmitted" else "❌"
+        outcome_label = "재주문" if outcome == "resubmitted" else "취소됨"
+        action_emoji = "🔴" if action == "SELL" else "🟢"
+        lines = [
+            f"<b>{outcome_emoji} 미체결 주문 {outcome_label}</b>",
+            f"Symbol: <code>{stock_code}</code> ({market})",
+            f"Action: {action_emoji} {action}",
+            f"Quantity: {quantity:,} shares",
+        ]
+        if new_price is not None:
+            lines.append(f"New Price: {new_price:.4f}")
+        message = "\n".join(lines)
+        await self._send_notification(NotificationMessage(priority=priority, message=message))
+
     async def notify_error(
         self, error_type: str, error_msg: str, context: str
     ) -> None:
@@ -403,6 +526,8 @@ class TelegramClient:
             error_msg: Error message
             context: Error context (e.g., stock code, market)
         """
+        if not self._filter.errors:
+            return
         message = (
             f"<b>Error: {error_type}</b>\n"
             f"Context: {context}\n"
@@ -429,6 +554,7 @@ class TelegramCommandHandler:
         self._client = client
         self._polling_interval = polling_interval
         self._commands: dict[str, Callable[[], Awaitable[None]]] = {}
+        self._commands_with_args: dict[str, Callable[[list[str]], Awaitable[None]]] = {}
         self._last_update_id = 0
         self._polling_task: asyncio.Task[None] | None = None
         self._running = False
@@ -437,7 +563,7 @@ class TelegramCommandHandler:
         self, command: str, handler: Callable[[], Awaitable[None]]
     ) -> None:
         """
-        Register a command handler.
+        Register a command handler (no arguments).
 
         Args:
             command: Command name (without leading slash, e.g., "start")
@@ -446,6 +572,19 @@ class TelegramCommandHandler:
         self._commands[command] = handler
         logger.debug("Registered command handler: /%s", command)
 
+    def register_command_with_args(
+        self, command: str, handler: Callable[[list[str]], Awaitable[None]]
+    ) -> None:
+        """
+        Register a command handler that receives trailing arguments.
+
+        Args:
+            command: Command name (without leading slash, e.g., "notify")
+            handler: Async function receiving list of argument tokens
+        """
+        self._commands_with_args[command] = handler
+        logger.debug("Registered command handler (with args): /%s", command)
+
     async def start_polling(self) -> None:
         """Start long polling for commands."""
         if self._running:
@@ -507,9 +646,19 @@ class TelegramCommandHandler:
             async with session.post(url, json=payload) as resp:
                 if resp.status != 200:
                     error_text = await resp.text()
-                    logger.error(
-                        "getUpdates API error (status=%d): %s", resp.status, error_text
-                    )
+                    if resp.status == 409:
+                        # Another bot instance is already polling — stop this poller entirely.
+                        # Retrying would keep conflicting with the other instance.
+                        self._running = False
+                        logger.warning(
+                            "Telegram conflict (409): another instance is already polling. "
+                            "Disabling Telegram commands for this process. "
+                            "Ensure only one instance of The Ouroboros is running at a time.",
+                        )
+                    else:
+                        logger.error(
+                            "getUpdates API error (status=%d): %s", resp.status, error_text
+                        )
                     return []
 
                 data = await resp.json()
@@ -566,11 +715,14 @@ class TelegramCommandHandler:
             # Remove @botname suffix if present (for group chats)
             command_name = command_parts[0].split("@")[0]
 
-            # Execute handler
-            handler = self._commands.get(command_name)
-            if handler:
+            # Execute handler (args-aware handlers take priority)
+            args_handler = self._commands_with_args.get(command_name)
+            if args_handler:
+                logger.info("Executing command: /%s %s", command_name, command_parts[1:])
+                await args_handler(command_parts[1:])
+            elif command_name in self._commands:
                 logger.info("Executing command: /%s", command_name)
-                await handler()
+                await self._commands[command_name]()
             else:
                 logger.debug("Unknown command: /%s", command_name)
                 await self._client.send_message(

src/strategy/exit_rules.py

@@ -0,0 +1,104 @@
+"""Composite exit rules: hard stop, break-even lock, ATR trailing, model assist."""
+
+from __future__ import annotations
+
+from dataclasses import dataclass
+
+from src.strategy.position_state_machine import PositionState, StateTransitionInput, promote_state
+
+
+@dataclass(frozen=True)
+class ExitRuleConfig:
+    hard_stop_pct: float = -2.0
+    be_arm_pct: float = 1.2
+    arm_pct: float = 3.0
+    atr_multiplier_k: float = 2.2
+    model_prob_threshold: float = 0.62
+
+
+@dataclass(frozen=True)
+class ExitRuleInput:
+    current_price: float
+    entry_price: float
+    peak_price: float
+    atr_value: float = 0.0
+    pred_down_prob: float = 0.0
+    liquidity_weak: bool = False
+
+
+@dataclass(frozen=True)
+class ExitEvaluation:
+    state: PositionState
+    should_exit: bool
+    reason: str
+    unrealized_pnl_pct: float
+    trailing_stop_price: float | None
+
+
+def evaluate_exit(
+    *,
+    current_state: PositionState,
+    config: ExitRuleConfig,
+    inp: ExitRuleInput,
+) -> ExitEvaluation:
+    """Evaluate composite exit logic and return updated state."""
+    if inp.entry_price <= 0 or inp.current_price <= 0:
+        return ExitEvaluation(
+            state=current_state,
+            should_exit=False,
+            reason="invalid_price",
+            unrealized_pnl_pct=0.0,
+            trailing_stop_price=None,
+        )
+
+    unrealized = (inp.current_price - inp.entry_price) / inp.entry_price * 100.0
+    hard_stop_hit = unrealized <= config.hard_stop_pct
+    take_profit_hit = unrealized >= config.arm_pct
+
+    trailing_stop_price: float | None = None
+    trailing_stop_hit = False
+    if inp.atr_value > 0 and inp.peak_price > 0:
+        trailing_stop_price = inp.peak_price - (config.atr_multiplier_k * inp.atr_value)
+        trailing_stop_hit = inp.current_price <= trailing_stop_price
+
+    be_lock_threat = current_state in (PositionState.BE_LOCK, PositionState.ARMED) and (
+        inp.current_price <= inp.entry_price
+    )
+    model_exit_signal = inp.pred_down_prob >= config.model_prob_threshold and inp.liquidity_weak
+
+    next_state = promote_state(
+        current=current_state,
+        inp=StateTransitionInput(
+            unrealized_pnl_pct=unrealized,
+            be_arm_pct=config.be_arm_pct,
+            arm_pct=config.arm_pct,
+            hard_stop_hit=hard_stop_hit,
+            trailing_stop_hit=trailing_stop_hit,
+            model_exit_signal=model_exit_signal,
+            be_lock_threat=be_lock_threat,
+        ),
+    )
+
+    if hard_stop_hit:
+        reason = "hard_stop"
+    elif trailing_stop_hit:
+        reason = "atr_trailing_stop"
+    elif be_lock_threat:
+        reason = "be_lock_threat"
+    elif model_exit_signal:
+        reason = "model_liquidity_exit"
+    elif take_profit_hit:
+        # Backward-compatible immediate profit-taking path.
+        reason = "arm_take_profit"
+    else:
+        reason = "hold"
+
+    should_exit = next_state == PositionState.EXITED or take_profit_hit
+
+    return ExitEvaluation(
+        state=next_state,
+        should_exit=should_exit,
+        reason=reason,
+        unrealized_pnl_pct=unrealized,
+        trailing_stop_price=trailing_stop_price,
+    )

src/strategy/models.py

@@ -46,6 +46,18 @@ class StockCondition(BaseModel):
 
     The ScenarioEngine evaluates all non-None fields as AND conditions.
     A condition matches only if ALL specified fields are satisfied.
+
+    Technical indicator fields:
+        rsi_below / rsi_above — RSI threshold
+        volume_ratio_above / volume_ratio_below — volume vs previous day
+        price_above / price_below — absolute price level
+        price_change_pct_above / price_change_pct_below — intraday % change
+
+    Position-aware fields (require market_data enrichment from open position):
+        unrealized_pnl_pct_above — matches if unrealized P&L > threshold (e.g. 3.0 → +3%)
+        unrealized_pnl_pct_below — matches if unrealized P&L < threshold (e.g. -2.0 → -2%)
+        holding_days_above — matches if position held for more than N days
+        holding_days_below — matches if position held for fewer than N days
     """
 
     rsi_below: float | None = None
@@ -56,6 +68,10 @@ class StockCondition(BaseModel):
     price_below: float | None = None
     price_change_pct_above: float | None = None
     price_change_pct_below: float | None = None
+    unrealized_pnl_pct_above: float | None = None
+    unrealized_pnl_pct_below: float | None = None
+    holding_days_above: int | None = None
+    holding_days_below: int | None = None
 
     def has_any_condition(self) -> bool:
         """Check if at least one condition field is set."""
@@ -70,6 +86,10 @@ class StockCondition(BaseModel):
                 self.price_below,
                 self.price_change_pct_above,
                 self.price_change_pct_below,
+                self.unrealized_pnl_pct_above,
+                self.unrealized_pnl_pct_below,
+                self.holding_days_above,
+                self.holding_days_below,
             )
         )
 

src/strategy/position_state_machine.py

@@ -0,0 +1,70 @@
+"""Position state machine for staged exit control.
+
+State progression is monotonic (promotion-only) except terminal EXITED.
+"""
+
+from __future__ import annotations
+
+from dataclasses import dataclass
+from enum import Enum
+
+
+class PositionState(str, Enum):
+    HOLDING = "HOLDING"
+    BE_LOCK = "BE_LOCK"
+    ARMED = "ARMED"
+    EXITED = "EXITED"
+
+
+_STATE_RANK: dict[PositionState, int] = {
+    PositionState.HOLDING: 0,
+    PositionState.BE_LOCK: 1,
+    PositionState.ARMED: 2,
+    PositionState.EXITED: 3,
+}
+
+
+@dataclass(frozen=True)
+class StateTransitionInput:
+    unrealized_pnl_pct: float
+    be_arm_pct: float
+    arm_pct: float
+    hard_stop_hit: bool = False
+    trailing_stop_hit: bool = False
+    model_exit_signal: bool = False
+    be_lock_threat: bool = False
+
+
+def evaluate_exit_first(inp: StateTransitionInput) -> bool:
+    """Return True when terminal exit conditions are met.
+
+    EXITED must be evaluated before any promotion.
+    """
+    return (
+        inp.hard_stop_hit
+        or inp.trailing_stop_hit
+        or inp.model_exit_signal
+        or inp.be_lock_threat
+    )
+
+
+def promote_state(current: PositionState, inp: StateTransitionInput) -> PositionState:
+    """Promote to highest admissible state for current tick/bar.
+
+    Rules:
+    - EXITED has highest precedence and is terminal.
+    - Promotions are monotonic (no downgrade).
+    """
+    if current == PositionState.EXITED:
+        return PositionState.EXITED
+
+    if evaluate_exit_first(inp):
+        return PositionState.EXITED
+
+    target = PositionState.HOLDING
+    if inp.unrealized_pnl_pct >= inp.arm_pct:
+        target = PositionState.ARMED
+    elif inp.unrealized_pnl_pct >= inp.be_arm_pct:
+        target = PositionState.BE_LOCK
+
+    return target if _STATE_RANK[target] > _STATE_RANK[current] else current

src/strategy/pre_market_planner.py

@@ -1,7 +1,8 @@
 """Pre-market planner — generates DayPlaybook via Gemini before market open.
 
 One Gemini API call per market per day. Candidates come from SmartVolatilityScanner.
-On failure, returns a defensive playbook (all HOLD, no trades).
+On failure, returns a smart rule-based fallback playbook that uses scanner signals
+(momentum/oversold) to generate BUY conditions, avoiding the all-HOLD problem.
 """
 
 from __future__ import annotations
@@ -74,6 +75,7 @@ class PreMarketPlanner:
         market: str,
         candidates: list[ScanCandidate],
         today: date | None = None,
+        current_holdings: list[dict] | None = None,
     ) -> DayPlaybook:
         """Generate a DayPlaybook for a market using Gemini.
 
@@ -81,6 +83,10 @@ class PreMarketPlanner:
             market: Market code ("KR" or "US")
             candidates: Stock candidates from SmartVolatilityScanner
             today: Override date (defaults to date.today()). Use market-local date.
+            current_holdings: Currently held positions with entry_price and unrealized_pnl_pct.
+                Each dict: {"stock_code": str, "name": str, "qty": int,
+                            "entry_price": float, "unrealized_pnl_pct": float,
+                            "holding_days": int}
 
         Returns:
             DayPlaybook with scenarios. Empty/defensive if no candidates or failure.
@@ -105,6 +111,7 @@ class PreMarketPlanner:
                 context_data,
                 self_market_scorecard,
                 cross_market,
+                current_holdings=current_holdings,
             )
 
             # 3. Call Gemini
@@ -117,7 +124,8 @@ class PreMarketPlanner:
 
             # 4. Parse response
             playbook = self._parse_response(
-                decision.rationale, today, market, candidates, cross_market
+                decision.rationale, today, market, candidates, cross_market,
+                current_holdings=current_holdings,
             )
             playbook_with_tokens = playbook.model_copy(
                 update={"token_count": decision.token_count}
@@ -134,7 +142,7 @@ class PreMarketPlanner:
         except Exception:
             logger.exception("Playbook generation failed for %s", market)
             if self._settings.DEFENSIVE_PLAYBOOK_ON_FAILURE:
-                return self._defensive_playbook(today, market, candidates)
+                return self._smart_fallback_playbook(today, market, candidates, self._settings)
             return self._empty_playbook(today, market)
 
     def build_cross_market_context(
@@ -229,6 +237,7 @@ class PreMarketPlanner:
         context_data: dict[str, Any],
         self_market_scorecard: dict[str, Any] | None,
         cross_market: CrossMarketContext | None,
+        current_holdings: list[dict] | None = None,
     ) -> str:
         """Build a structured prompt for Gemini to generate scenario JSON."""
         max_scenarios = self._settings.MAX_SCENARIOS_PER_STOCK
@@ -240,6 +249,26 @@ class PreMarketPlanner:
             for c in candidates
         )
 
+        holdings_text = ""
+        if current_holdings:
+            lines = []
+            for h in current_holdings:
+                code = h.get("stock_code", "")
+                name = h.get("name", "")
+                qty = h.get("qty", 0)
+                entry_price = h.get("entry_price", 0.0)
+                pnl_pct = h.get("unrealized_pnl_pct", 0.0)
+                holding_days = h.get("holding_days", 0)
+                lines.append(
+                    f"  - {code} ({name}): {qty}주 @ {entry_price:,.0f}, "
+                    f"미실현손익 {pnl_pct:+.2f}%, 보유 {holding_days}일"
+                )
+            holdings_text = (
+                "\n## Current Holdings (보유 중 — SELL/HOLD 전략 고려 필요)\n"
+                + "\n".join(lines)
+                + "\n"
+            )
+
         cross_market_text = ""
         if cross_market:
             cross_market_text = (
@@ -272,10 +301,20 @@ class PreMarketPlanner:
                     for key, value in list(layer_data.items())[:5]:
                         context_text += f"  - {key}: {value}\n"
 
+        holdings_instruction = ""
+        if current_holdings:
+            holding_codes = [h.get("stock_code", "") for h in current_holdings]
+            holdings_instruction = (
+                f"- Also include SELL/HOLD scenarios for held stocks: "
+                f"{', '.join(holding_codes)} "
+                f"(even if not in candidates list)\n"
+            )
+
         return (
             f"You are a pre-market trading strategist for the {market} market.\n"
             f"Generate structured trading scenarios for today.\n\n"
             f"## Candidates (from volatility scanner)\n{candidates_text}\n"
+            f"{holdings_text}"
             f"{self_market_text}"
             f"{cross_market_text}"
             f"{context_text}\n"
@@ -293,7 +332,8 @@ class PreMarketPlanner:
             f'      "stock_code": "...",\n'
             f'      "scenarios": [\n'
             f'        {{\n'
-            f'          "condition": {{"rsi_below": 30, "volume_ratio_above": 2.0}},\n'
+            f'          "condition": {{"rsi_below": 30, "volume_ratio_above": 2.0,'
+            f' "unrealized_pnl_pct_above": 3.0, "holding_days_above": 5}},\n'
             f'          "action": "BUY|SELL|HOLD",\n'
             f'          "confidence": 85,\n'
             f'          "allocation_pct": 10.0,\n'
@@ -307,7 +347,8 @@ class PreMarketPlanner:
             f'}}\n\n'
             f"Rules:\n"
             f"- Max {max_scenarios} scenarios per stock\n"
-            f"- Only use stocks from the candidates list\n"
+            f"- Candidates list is the primary source for BUY candidates\n"
+            f"{holdings_instruction}"
             f"- Confidence 0-100 (80+ for actionable trades)\n"
             f"- stop_loss_pct must be <= 0, take_profit_pct must be >= 0\n"
             f"- Return ONLY the JSON, no markdown fences or explanation\n"
@@ -320,12 +361,19 @@ class PreMarketPlanner:
         market: str,
         candidates: list[ScanCandidate],
         cross_market: CrossMarketContext | None,
+        current_holdings: list[dict] | None = None,
     ) -> DayPlaybook:
         """Parse Gemini's JSON response into a validated DayPlaybook."""
         cleaned = self._extract_json(response_text)
         data = json.loads(cleaned)
 
         valid_codes = {c.stock_code for c in candidates}
+        # Holdings are also valid — AI may generate SELL/HOLD scenarios for them
+        if current_holdings:
+            for h in current_holdings:
+                code = h.get("stock_code", "")
+                if code:
+                    valid_codes.add(code)
 
         # Parse market outlook
         outlook_str = data.get("market_outlook", "neutral")
@@ -389,6 +437,10 @@ class PreMarketPlanner:
                 price_below=cond_data.get("price_below"),
                 price_change_pct_above=cond_data.get("price_change_pct_above"),
                 price_change_pct_below=cond_data.get("price_change_pct_below"),
+                unrealized_pnl_pct_above=cond_data.get("unrealized_pnl_pct_above"),
+                unrealized_pnl_pct_below=cond_data.get("unrealized_pnl_pct_below"),
+                holding_days_above=cond_data.get("holding_days_above"),
+                holding_days_below=cond_data.get("holding_days_below"),
             )
 
             if not condition.has_any_condition():
@@ -470,3 +522,99 @@ class PreMarketPlanner:
                 ),
             ],
         )
+
+    @staticmethod
+    def _smart_fallback_playbook(
+        today: date,
+        market: str,
+        candidates: list[ScanCandidate],
+        settings: Settings,
+    ) -> DayPlaybook:
+        """Rule-based fallback playbook when Gemini is unavailable.
+
+        Uses scanner signals (RSI, volume_ratio) to generate meaningful BUY
+        conditions instead of the all-SELL defensive playbook.  Candidates are
+        already pre-qualified by SmartVolatilityScanner, so we trust their
+        signals and build actionable scenarios from them.
+
+        Scenario logic per candidate:
+        - momentum signal: BUY when volume_ratio exceeds scanner threshold
+        - oversold signal: BUY when RSI is below oversold threshold
+        - always: SELL stop-loss at -3.0% as guard
+        """
+        stock_playbooks = []
+        for c in candidates:
+            scenarios: list[StockScenario] = []
+
+            if c.signal == "momentum":
+                scenarios.append(
+                    StockScenario(
+                        condition=StockCondition(
+                            volume_ratio_above=settings.VOL_MULTIPLIER,
+                        ),
+                        action=ScenarioAction.BUY,
+                        confidence=80,
+                        allocation_pct=10.0,
+                        stop_loss_pct=-3.0,
+                        take_profit_pct=5.0,
+                        rationale=(
+                            f"Rule-based BUY: momentum signal, "
+                            f"volume={c.volume_ratio:.1f}x (fallback planner)"
+                        ),
+                    )
+                )
+            elif c.signal == "oversold":
+                scenarios.append(
+                    StockScenario(
+                        condition=StockCondition(
+                            rsi_below=settings.RSI_OVERSOLD_THRESHOLD,
+                        ),
+                        action=ScenarioAction.BUY,
+                        confidence=80,
+                        allocation_pct=10.0,
+                        stop_loss_pct=-3.0,
+                        take_profit_pct=5.0,
+                        rationale=(
+                            f"Rule-based BUY: oversold signal, "
+                            f"RSI={c.rsi:.0f} (fallback planner)"
+                        ),
+                    )
+                )
+
+            # Always add stop-loss guard
+            scenarios.append(
+                StockScenario(
+                    condition=StockCondition(price_change_pct_below=-3.0),
+                    action=ScenarioAction.SELL,
+                    confidence=90,
+                    stop_loss_pct=-3.0,
+                    rationale="Rule-based stop-loss (fallback planner)",
+                )
+            )
+
+            stock_playbooks.append(
+                StockPlaybook(
+                    stock_code=c.stock_code,
+                    scenarios=scenarios,
+                )
+            )
+
+        logger.info(
+            "Smart fallback playbook for %s: %d stocks with rule-based BUY/SELL conditions",
+            market,
+            len(stock_playbooks),
+        )
+        return DayPlaybook(
+            date=today,
+            market=market,
+            market_outlook=MarketOutlook.NEUTRAL,
+            default_action=ScenarioAction.HOLD,
+            stock_playbooks=stock_playbooks,
+            global_rules=[
+                GlobalRule(
+                    condition="portfolio_pnl_pct < -2.0",
+                    action=ScenarioAction.REDUCE_ALL,
+                    rationale="Defensive: reduce on loss threshold",
+                ),
+            ],
+        )

src/strategy/scenario_engine.py

@@ -206,6 +206,37 @@ class ScenarioEngine:
         if condition.price_change_pct_below is not None:
             checks.append(price_change_pct is not None and price_change_pct < condition.price_change_pct_below)
 
+        # Position-aware conditions
+        unrealized_pnl_pct = self._safe_float(market_data.get("unrealized_pnl_pct"))
+        if condition.unrealized_pnl_pct_above is not None or condition.unrealized_pnl_pct_below is not None:
+            if "unrealized_pnl_pct" not in market_data:
+                self._warn_missing_key("unrealized_pnl_pct")
+        if condition.unrealized_pnl_pct_above is not None:
+            checks.append(
+                unrealized_pnl_pct is not None
+                and unrealized_pnl_pct > condition.unrealized_pnl_pct_above
+            )
+        if condition.unrealized_pnl_pct_below is not None:
+            checks.append(
+                unrealized_pnl_pct is not None
+                and unrealized_pnl_pct < condition.unrealized_pnl_pct_below
+            )
+
+        holding_days = self._safe_float(market_data.get("holding_days"))
+        if condition.holding_days_above is not None or condition.holding_days_below is not None:
+            if "holding_days" not in market_data:
+                self._warn_missing_key("holding_days")
+        if condition.holding_days_above is not None:
+            checks.append(
+                holding_days is not None
+                and holding_days > condition.holding_days_above
+            )
+        if condition.holding_days_below is not None:
+            checks.append(
+                holding_days is not None
+                and holding_days < condition.holding_days_below
+            )
+
         return len(checks) > 0 and all(checks)
 
     def _evaluate_global_condition(
@@ -266,5 +297,9 @@ class ScenarioEngine:
             details["current_price"] = self._safe_float(market_data.get("current_price"))
         if condition.price_change_pct_above is not None or condition.price_change_pct_below is not None:
             details["price_change_pct"] = self._safe_float(market_data.get("price_change_pct"))
+        if condition.unrealized_pnl_pct_above is not None or condition.unrealized_pnl_pct_below is not None:
+            details["unrealized_pnl_pct"] = self._safe_float(market_data.get("unrealized_pnl_pct"))
+        if condition.holding_days_above is not None or condition.holding_days_below is not None:
+            details["holding_days"] = self._safe_float(market_data.get("holding_days"))
 
         return details

tests/test_backtest_cost_guard.py

@@ -0,0 +1,83 @@
+from __future__ import annotations
+
+import pytest
+
+from src.analysis.backtest_cost_guard import BacktestCostModel, validate_backtest_cost_model
+
+
+def test_valid_backtest_cost_model_passes() -> None:
+    model = BacktestCostModel(
+        commission_bps=5.0,
+        slippage_bps_by_session={"KRX_REG": 10.0, "US_PRE": 50.0},
+        failure_rate_by_session={"KRX_REG": 0.01, "US_PRE": 0.08},
+        unfavorable_fill_required=True,
+    )
+    validate_backtest_cost_model(model=model, required_sessions=["KRX_REG", "US_PRE"])
+
+
+def test_missing_required_slippage_session_raises() -> None:
+    model = BacktestCostModel(
+        commission_bps=5.0,
+        slippage_bps_by_session={"KRX_REG": 10.0},
+        failure_rate_by_session={"KRX_REG": 0.01, "US_PRE": 0.08},
+        unfavorable_fill_required=True,
+    )
+    with pytest.raises(ValueError, match="missing slippage_bps_by_session.*US_PRE"):
+        validate_backtest_cost_model(model=model, required_sessions=["KRX_REG", "US_PRE"])
+
+
+def test_missing_required_failure_rate_session_raises() -> None:
+    model = BacktestCostModel(
+        commission_bps=5.0,
+        slippage_bps_by_session={"KRX_REG": 10.0, "US_PRE": 50.0},
+        failure_rate_by_session={"KRX_REG": 0.01},
+        unfavorable_fill_required=True,
+    )
+    with pytest.raises(ValueError, match="missing failure_rate_by_session.*US_PRE"):
+        validate_backtest_cost_model(model=model, required_sessions=["KRX_REG", "US_PRE"])
+
+
+def test_invalid_failure_rate_range_raises() -> None:
+    model = BacktestCostModel(
+        commission_bps=5.0,
+        slippage_bps_by_session={"KRX_REG": 10.0},
+        failure_rate_by_session={"KRX_REG": 1.2},
+        unfavorable_fill_required=True,
+    )
+    with pytest.raises(ValueError, match="failure rate must be within"):
+        validate_backtest_cost_model(model=model, required_sessions=["KRX_REG"])
+
+
+def test_unfavorable_fill_requirement_cannot_be_disabled() -> None:
+    model = BacktestCostModel(
+        commission_bps=5.0,
+        slippage_bps_by_session={"KRX_REG": 10.0},
+        failure_rate_by_session={"KRX_REG": 0.02},
+        unfavorable_fill_required=False,
+    )
+    with pytest.raises(ValueError, match="unfavorable_fill_required must be True"):
+        validate_backtest_cost_model(model=model, required_sessions=["KRX_REG"])
+
+
+@pytest.mark.parametrize("bad_commission", [float("nan"), float("inf"), float("-inf")])
+def test_non_finite_commission_rejected(bad_commission: float) -> None:
+    model = BacktestCostModel(
+        commission_bps=bad_commission,
+        slippage_bps_by_session={"KRX_REG": 10.0},
+        failure_rate_by_session={"KRX_REG": 0.02},
+        unfavorable_fill_required=True,
+    )
+    with pytest.raises(ValueError, match="commission_bps"):
+        validate_backtest_cost_model(model=model, required_sessions=["KRX_REG"])
+
+
+@pytest.mark.parametrize("bad_slippage", [float("nan"), float("inf"), float("-inf")])
+def test_non_finite_slippage_rejected(bad_slippage: float) -> None:
+    model = BacktestCostModel(
+        commission_bps=5.0,
+        slippage_bps_by_session={"KRX_REG": bad_slippage},
+        failure_rate_by_session={"KRX_REG": 0.02},
+        unfavorable_fill_required=True,
+    )
+    with pytest.raises(ValueError, match="slippage bps"):
+        validate_backtest_cost_model(model=model, required_sessions=["KRX_REG"])

tests/test_backtest_execution_model.py

@@ -0,0 +1,108 @@
+from __future__ import annotations
+
+import pytest
+
+from src.analysis.backtest_execution_model import (
+    BacktestExecutionModel,
+    ExecutionAssumptions,
+    ExecutionRequest,
+)
+
+
+def test_buy_uses_unfavorable_slippage_direction() -> None:
+    model = BacktestExecutionModel(
+        ExecutionAssumptions(
+            slippage_bps_by_session={"US_PRE": 50.0},
+            failure_rate_by_session={"US_PRE": 0.0},
+            partial_fill_rate_by_session={"US_PRE": 0.0},
+            seed=1,
+        )
+    )
+    out = model.simulate(
+        ExecutionRequest(side="BUY", session_id="US_PRE", qty=10, reference_price=100.0)
+    )
+    assert out.status == "FILLED"
+    assert out.avg_price == pytest.approx(100.5)
+
+
+def test_sell_uses_unfavorable_slippage_direction() -> None:
+    model = BacktestExecutionModel(
+        ExecutionAssumptions(
+            slippage_bps_by_session={"US_PRE": 50.0},
+            failure_rate_by_session={"US_PRE": 0.0},
+            partial_fill_rate_by_session={"US_PRE": 0.0},
+            seed=1,
+        )
+    )
+    out = model.simulate(
+        ExecutionRequest(side="SELL", session_id="US_PRE", qty=10, reference_price=100.0)
+    )
+    assert out.status == "FILLED"
+    assert out.avg_price == pytest.approx(99.5)
+
+
+def test_failure_rate_can_reject_order() -> None:
+    model = BacktestExecutionModel(
+        ExecutionAssumptions(
+            slippage_bps_by_session={"KRX_REG": 10.0},
+            failure_rate_by_session={"KRX_REG": 1.0},
+            partial_fill_rate_by_session={"KRX_REG": 0.0},
+            seed=42,
+        )
+    )
+    out = model.simulate(
+        ExecutionRequest(side="BUY", session_id="KRX_REG", qty=10, reference_price=100.0)
+    )
+    assert out.status == "REJECTED"
+    assert out.filled_qty == 0
+
+
+def test_partial_fill_applies_when_rate_is_one() -> None:
+    model = BacktestExecutionModel(
+        ExecutionAssumptions(
+            slippage_bps_by_session={"KRX_REG": 0.0},
+            failure_rate_by_session={"KRX_REG": 0.0},
+            partial_fill_rate_by_session={"KRX_REG": 1.0},
+            partial_fill_min_ratio=0.4,
+            partial_fill_max_ratio=0.4,
+            seed=0,
+        )
+    )
+    out = model.simulate(
+        ExecutionRequest(side="BUY", session_id="KRX_REG", qty=10, reference_price=100.0)
+    )
+    assert out.status == "PARTIAL"
+    assert out.filled_qty == 4
+    assert out.avg_price == 100.0
+
+
+@pytest.mark.parametrize("bad_slip", [-1.0, float("nan"), float("inf")])
+def test_invalid_slippage_is_rejected(bad_slip: float) -> None:
+    with pytest.raises(ValueError, match="slippage_bps"):
+        BacktestExecutionModel(
+            ExecutionAssumptions(
+                slippage_bps_by_session={"US_PRE": bad_slip},
+                failure_rate_by_session={"US_PRE": 0.0},
+                partial_fill_rate_by_session={"US_PRE": 0.0},
+            )
+        )
+
+
+@pytest.mark.parametrize("bad_rate", [-0.1, 1.1, float("nan")])
+def test_invalid_failure_or_partial_rates_are_rejected(bad_rate: float) -> None:
+    with pytest.raises(ValueError, match="failure_rate"):
+        BacktestExecutionModel(
+            ExecutionAssumptions(
+                slippage_bps_by_session={"US_PRE": 10.0},
+                failure_rate_by_session={"US_PRE": bad_rate},
+                partial_fill_rate_by_session={"US_PRE": 0.0},
+            )
+        )
+    with pytest.raises(ValueError, match="partial_fill_rate"):
+        BacktestExecutionModel(
+            ExecutionAssumptions(
+                slippage_bps_by_session={"US_PRE": 10.0},
+                failure_rate_by_session={"US_PRE": 0.0},
+                partial_fill_rate_by_session={"US_PRE": bad_rate},
+            )
+        )

tests/test_backup.py

@@ -3,9 +3,11 @@
 from __future__ import annotations
 
 import sqlite3
+import sys
 import tempfile
 from datetime import UTC, datetime, timedelta
 from pathlib import Path
+from unittest.mock import MagicMock, patch
 
 import pytest
 
@@ -363,3 +365,435 @@ class TestHealthMonitor:
         assert "timestamp" in report
         assert "checks" in report
         assert len(report["checks"]) == 3
+
+
+# ---------------------------------------------------------------------------
+# BackupExporter — additional coverage for previously uncovered branches
+# ---------------------------------------------------------------------------
+
+
+@pytest.fixture
+def empty_db(tmp_path: Path) -> Path:
+    """Create a temporary database with NO trade records."""
+    db_path = tmp_path / "empty_trades.db"
+    conn = sqlite3.connect(str(db_path))
+    conn.execute(
+        """CREATE TABLE trades (
+            id INTEGER PRIMARY KEY AUTOINCREMENT,
+            timestamp TEXT NOT NULL,
+            stock_code TEXT NOT NULL,
+            action TEXT NOT NULL,
+            quantity INTEGER NOT NULL,
+            price REAL NOT NULL,
+            confidence INTEGER NOT NULL,
+            rationale TEXT,
+            pnl REAL DEFAULT 0.0
+        )"""
+    )
+    conn.commit()
+    conn.close()
+    return db_path
+
+
+class TestBackupExporterAdditional:
+    """Cover branches missed in the original TestBackupExporter suite."""
+
+    def test_export_all_default_formats(self, temp_db: Path, tmp_path: Path) -> None:
+        """export_all with formats=None must default to JSON+CSV+Parquet path."""
+        exporter = BackupExporter(str(temp_db))
+        # formats=None triggers the default list assignment (line 62)
+        results = exporter.export_all(tmp_path / "out", formats=None, compress=False)
+        # JSON and CSV must always succeed; Parquet needs pyarrow
+        assert ExportFormat.JSON in results
+        assert ExportFormat.CSV in results
+
+    def test_export_all_logs_error_on_failure(
+        self, temp_db: Path, tmp_path: Path
+    ) -> None:
+        """export_all must log an error and continue when one format fails."""
+        exporter = BackupExporter(str(temp_db))
+        # Patch _export_format to raise on JSON, succeed on CSV
+        original = exporter._export_format
+
+        def failing_export(fmt, *args, **kwargs):  # type: ignore[no-untyped-def]
+            if fmt == ExportFormat.JSON:
+                raise RuntimeError("simulated failure")
+            return original(fmt, *args, **kwargs)
+
+        exporter._export_format = failing_export  # type: ignore[method-assign]
+        results = exporter.export_all(
+            tmp_path / "out",
+            formats=[ExportFormat.JSON, ExportFormat.CSV],
+            compress=False,
+        )
+        # JSON failed → not in results; CSV succeeded → in results
+        assert ExportFormat.JSON not in results
+        assert ExportFormat.CSV in results
+
+    def test_export_csv_empty_trades_no_compress(
+        self, empty_db: Path, tmp_path: Path
+    ) -> None:
+        """CSV export with no trades and compress=False must write header row only."""
+        exporter = BackupExporter(str(empty_db))
+        results = exporter.export_all(
+            tmp_path / "out",
+            formats=[ExportFormat.CSV],
+            compress=False,
+        )
+        assert ExportFormat.CSV in results
+        out = results[ExportFormat.CSV]
+        assert out.exists()
+        content = out.read_text()
+        assert "timestamp" in content
+
+    def test_export_csv_empty_trades_compressed(
+        self, empty_db: Path, tmp_path: Path
+    ) -> None:
+        """CSV export with no trades and compress=True must write gzipped header."""
+        import gzip
+
+        exporter = BackupExporter(str(empty_db))
+        results = exporter.export_all(
+            tmp_path / "out",
+            formats=[ExportFormat.CSV],
+            compress=True,
+        )
+        assert ExportFormat.CSV in results
+        out = results[ExportFormat.CSV]
+        assert out.suffix == ".gz"
+        with gzip.open(out, "rt", encoding="utf-8") as f:
+            content = f.read()
+        assert "timestamp" in content
+
+    def test_export_csv_with_data_compressed(
+        self, temp_db: Path, tmp_path: Path
+    ) -> None:
+        """CSV export with data and compress=True must write gzipped rows."""
+        import gzip
+
+        exporter = BackupExporter(str(temp_db))
+        results = exporter.export_all(
+            tmp_path / "out",
+            formats=[ExportFormat.CSV],
+            compress=True,
+        )
+        assert ExportFormat.CSV in results
+        out = results[ExportFormat.CSV]
+        with gzip.open(out, "rt", encoding="utf-8") as f:
+            lines = f.readlines()
+        # Header + 3 data rows
+        assert len(lines) == 4
+
+    def test_export_parquet_raises_import_error_without_pyarrow(
+        self, temp_db: Path, tmp_path: Path
+    ) -> None:
+        """Parquet export must raise ImportError when pyarrow is not installed."""
+        exporter = BackupExporter(str(temp_db))
+        with patch.dict(sys.modules, {"pyarrow": None, "pyarrow.parquet": None}):
+            try:
+                import pyarrow  # noqa: F401
+                pytest.skip("pyarrow is installed; cannot test ImportError path")
+            except ImportError:
+                pass
+            results = exporter.export_all(
+                tmp_path / "out",
+                formats=[ExportFormat.PARQUET],
+                compress=False,
+            )
+            # Parquet export fails gracefully; result dict should not contain it
+            assert ExportFormat.PARQUET not in results
+
+
+# ---------------------------------------------------------------------------
+# CloudStorage — mocked boto3 tests
+# ---------------------------------------------------------------------------
+
+
+@pytest.fixture
+def mock_boto3_module():
+    """Inject a fake boto3 into sys.modules for the duration of the test."""
+    mock = MagicMock()
+    with patch.dict(sys.modules, {"boto3": mock}):
+        yield mock
+
+
+@pytest.fixture
+def s3_config():
+    """Minimal S3Config for tests."""
+    from src.backup.cloud_storage import S3Config
+
+    return S3Config(
+        endpoint_url="http://localhost:9000",
+        access_key="minioadmin",
+        secret_key="minioadmin",
+        bucket_name="test-bucket",
+        region="us-east-1",
+    )
+
+
+class TestCloudStorage:
+    """Test CloudStorage using mocked boto3."""
+
+    def test_init_creates_s3_client(self, mock_boto3_module, s3_config) -> None:
+        """CloudStorage.__init__ must call boto3.client with the correct args."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        mock_boto3_module.client.assert_called_once()
+        call_kwargs = mock_boto3_module.client.call_args[1]
+        assert call_kwargs["aws_access_key_id"] == "minioadmin"
+        assert call_kwargs["aws_secret_access_key"] == "minioadmin"
+        assert storage.config == s3_config
+
+    def test_init_raises_if_boto3_missing(self, s3_config) -> None:
+        """CloudStorage.__init__ must raise ImportError when boto3 is absent."""
+        with patch.dict(sys.modules, {"boto3": None}):  # type: ignore[dict-item]
+            with pytest.raises((ImportError, TypeError)):
+                # Re-import to trigger the try/except inside __init__
+                import importlib
+
+                import src.backup.cloud_storage as m
+
+                importlib.reload(m)
+                m.CloudStorage(s3_config)
+
+    def test_upload_file_success(
+        self, mock_boto3_module, s3_config, tmp_path: Path
+    ) -> None:
+        """upload_file must call client.upload_file and return the object key."""
+        from src.backup.cloud_storage import CloudStorage
+
+        test_file = tmp_path / "backup.json.gz"
+        test_file.write_bytes(b"data")
+
+        storage = CloudStorage(s3_config)
+        key = storage.upload_file(test_file, object_key="backups/backup.json.gz")
+
+        assert key == "backups/backup.json.gz"
+        storage.client.upload_file.assert_called_once()
+
+    def test_upload_file_default_key(
+        self, mock_boto3_module, s3_config, tmp_path: Path
+    ) -> None:
+        """upload_file without object_key must use the filename as key."""
+        from src.backup.cloud_storage import CloudStorage
+
+        test_file = tmp_path / "myfile.gz"
+        test_file.write_bytes(b"data")
+
+        storage = CloudStorage(s3_config)
+        key = storage.upload_file(test_file)
+
+        assert key == "myfile.gz"
+
+    def test_upload_file_not_found(
+        self, mock_boto3_module, s3_config, tmp_path: Path
+    ) -> None:
+        """upload_file must raise FileNotFoundError for missing files."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        with pytest.raises(FileNotFoundError):
+            storage.upload_file(tmp_path / "nonexistent.gz")
+
+    def test_upload_file_propagates_client_error(
+        self, mock_boto3_module, s3_config, tmp_path: Path
+    ) -> None:
+        """upload_file must re-raise exceptions from the boto3 client."""
+        from src.backup.cloud_storage import CloudStorage
+
+        test_file = tmp_path / "backup.gz"
+        test_file.write_bytes(b"data")
+
+        storage = CloudStorage(s3_config)
+        storage.client.upload_file.side_effect = RuntimeError("network error")
+
+        with pytest.raises(RuntimeError, match="network error"):
+            storage.upload_file(test_file)
+
+    def test_download_file_success(
+        self, mock_boto3_module, s3_config, tmp_path: Path
+    ) -> None:
+        """download_file must call client.download_file and return local path."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        dest = tmp_path / "downloads" / "backup.gz"
+
+        result = storage.download_file("backups/backup.gz", dest)
+
+        assert result == dest
+        storage.client.download_file.assert_called_once()
+
+    def test_download_file_propagates_error(
+        self, mock_boto3_module, s3_config, tmp_path: Path
+    ) -> None:
+        """download_file must re-raise exceptions from the boto3 client."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.client.download_file.side_effect = RuntimeError("timeout")
+
+        with pytest.raises(RuntimeError, match="timeout"):
+            storage.download_file("key", tmp_path / "dest.gz")
+
+    def test_list_files_returns_objects(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """list_files must return parsed file metadata from S3 response."""
+        from datetime import timezone
+
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.client.list_objects_v2.return_value = {
+            "Contents": [
+                {
+                    "Key": "backups/a.gz",
+                    "Size": 1024,
+                    "LastModified": datetime(2026, 1, 1, tzinfo=timezone.utc),
+                    "ETag": '"abc123"',
+                }
+            ]
+        }
+
+        files = storage.list_files(prefix="backups/")
+        assert len(files) == 1
+        assert files[0]["key"] == "backups/a.gz"
+        assert files[0]["size_bytes"] == 1024
+
+    def test_list_files_empty_bucket(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """list_files must return empty list when bucket has no objects."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.client.list_objects_v2.return_value = {}
+
+        files = storage.list_files()
+        assert files == []
+
+    def test_list_files_propagates_error(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """list_files must re-raise exceptions from the boto3 client."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.client.list_objects_v2.side_effect = RuntimeError("auth error")
+
+        with pytest.raises(RuntimeError):
+            storage.list_files()
+
+    def test_delete_file_success(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """delete_file must call client.delete_object with the correct key."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.delete_file("backups/old.gz")
+        storage.client.delete_object.assert_called_once_with(
+            Bucket="test-bucket", Key="backups/old.gz"
+        )
+
+    def test_delete_file_propagates_error(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """delete_file must re-raise exceptions from the boto3 client."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.client.delete_object.side_effect = RuntimeError("permission denied")
+
+        with pytest.raises(RuntimeError):
+            storage.delete_file("backups/old.gz")
+
+    def test_get_storage_stats_success(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """get_storage_stats must aggregate file sizes correctly."""
+        from datetime import timezone
+
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.client.list_objects_v2.return_value = {
+            "Contents": [
+                {
+                    "Key": "a.gz",
+                    "Size": 1024 * 1024,
+                    "LastModified": datetime(2026, 1, 1, tzinfo=timezone.utc),
+                    "ETag": '"x"',
+                },
+                {
+                    "Key": "b.gz",
+                    "Size": 1024 * 1024,
+                    "LastModified": datetime(2026, 1, 2, tzinfo=timezone.utc),
+                    "ETag": '"y"',
+                },
+            ]
+        }
+
+        stats = storage.get_storage_stats()
+        assert stats["total_files"] == 2
+        assert stats["total_size_bytes"] == 2 * 1024 * 1024
+        assert stats["total_size_mb"] == pytest.approx(2.0)
+
+    def test_get_storage_stats_on_error(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """get_storage_stats must return error dict without raising on failure."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.client.list_objects_v2.side_effect = RuntimeError("no connection")
+
+        stats = storage.get_storage_stats()
+        assert "error" in stats
+        assert stats["total_files"] == 0
+
+    def test_verify_connection_success(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """verify_connection must return True when head_bucket succeeds."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        result = storage.verify_connection()
+        assert result is True
+
+    def test_verify_connection_failure(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """verify_connection must return False when head_bucket raises."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.client.head_bucket.side_effect = RuntimeError("no such bucket")
+
+        result = storage.verify_connection()
+        assert result is False
+
+    def test_enable_versioning(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """enable_versioning must call put_bucket_versioning."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.enable_versioning()
+        storage.client.put_bucket_versioning.assert_called_once()
+
+    def test_enable_versioning_propagates_error(
+        self, mock_boto3_module, s3_config
+    ) -> None:
+        """enable_versioning must re-raise exceptions from the boto3 client."""
+        from src.backup.cloud_storage import CloudStorage
+
+        storage = CloudStorage(s3_config)
+        storage.client.put_bucket_versioning.side_effect = RuntimeError("denied")
+
+        with pytest.raises(RuntimeError):
+            storage.enable_versioning()

tests/test_blackout_manager.py

@@ -0,0 +1,81 @@
+from __future__ import annotations
+
+from datetime import UTC, datetime
+
+from src.core.blackout_manager import (
+    BlackoutOrderManager,
+    QueuedOrderIntent,
+    parse_blackout_windows_kst,
+)
+
+
+def test_parse_blackout_windows_kst() -> None:
+    windows = parse_blackout_windows_kst("23:30-00:10,11:20-11:30,invalid")
+    assert len(windows) == 2
+
+
+def test_blackout_manager_handles_cross_midnight_window() -> None:
+    manager = BlackoutOrderManager(
+        enabled=True,
+        windows=parse_blackout_windows_kst("23:30-00:10"),
+        max_queue_size=10,
+    )
+    # 2026-01-01 23:40 KST = 2026-01-01 14:40 UTC
+    assert manager.in_blackout(datetime(2026, 1, 1, 14, 40, tzinfo=UTC))
+    # 2026-01-02 00:20 KST = 2026-01-01 15:20 UTC
+    assert not manager.in_blackout(datetime(2026, 1, 1, 15, 20, tzinfo=UTC))
+
+
+def test_recovery_batch_only_after_blackout_exit() -> None:
+    manager = BlackoutOrderManager(
+        enabled=True,
+        windows=parse_blackout_windows_kst("23:30-00:10"),
+        max_queue_size=10,
+    )
+    intent = QueuedOrderIntent(
+        market_code="KR",
+        exchange_code="KRX",
+        stock_code="005930",
+        order_type="BUY",
+        quantity=1,
+        price=100.0,
+        source="test",
+        queued_at=datetime.now(UTC),
+    )
+    assert manager.enqueue(intent)
+
+    # Inside blackout: no pop yet
+    inside_blackout = datetime(2026, 1, 1, 14, 40, tzinfo=UTC)
+    assert manager.pop_recovery_batch(inside_blackout) == []
+
+    # Outside blackout: pop full batch once
+    outside_blackout = datetime(2026, 1, 1, 15, 20, tzinfo=UTC)
+    batch = manager.pop_recovery_batch(outside_blackout)
+    assert len(batch) == 1
+    assert manager.pending_count == 0
+
+
+def test_requeued_intent_is_processed_next_non_blackout_cycle() -> None:
+    manager = BlackoutOrderManager(
+        enabled=True,
+        windows=parse_blackout_windows_kst("23:30-00:10"),
+        max_queue_size=10,
+    )
+    intent = QueuedOrderIntent(
+        market_code="KR",
+        exchange_code="KRX",
+        stock_code="005930",
+        order_type="BUY",
+        quantity=1,
+        price=100.0,
+        source="test",
+        queued_at=datetime.now(UTC),
+    )
+    manager.enqueue(intent)
+    outside_blackout = datetime(2026, 1, 1, 15, 20, tzinfo=UTC)
+    first_batch = manager.pop_recovery_batch(outside_blackout)
+    assert len(first_batch) == 1
+
+    manager.requeue(first_batch[0])
+    second_batch = manager.pop_recovery_batch(outside_blackout)
+    assert len(second_batch) == 1

tests/test_brain.py

@@ -2,6 +2,10 @@
 
 from __future__ import annotations
 
+from unittest.mock import AsyncMock, MagicMock, patch
+
+import pytest
+
 from src.brain.gemini_client import GeminiClient
 
 # ---------------------------------------------------------------------------
@@ -89,9 +93,21 @@ class TestMalformedJsonHandling:
 
     def test_json_with_missing_fields_returns_hold(self, settings):
         client = GeminiClient(settings)
-        decision = client.parse_response('{"action": "BUY"}')
+        raw = '{"action": "BUY"}'
+        decision = client.parse_response(raw)
         assert decision.action == "HOLD"
         assert decision.confidence == 0
+        # rationale preserves raw so prompt_override callers (e.g. pre_market_planner)
+        # can extract non-TradeDecision JSON from decision.rationale (#245)
+        assert decision.rationale == raw
+
+    def test_non_trade_decision_json_preserves_raw_in_rationale(self, settings):
+        """Playbook JSON (no action/confidence/rationale) must be preserved for planner."""
+        client = GeminiClient(settings)
+        playbook_json = '{"market_outlook": "neutral", "stocks": []}'
+        decision = client.parse_response(playbook_json)
+        assert decision.action == "HOLD"
+        assert decision.rationale == playbook_json
 
     def test_json_with_invalid_action_returns_hold(self, settings):
         client = GeminiClient(settings)
@@ -270,3 +286,132 @@ class TestBatchDecisionParsing:
 
         assert decisions["AAPL"].action == "HOLD"
         assert decisions["AAPL"].confidence == 0
+
+
+# ---------------------------------------------------------------------------
+# Prompt Override (used by pre_market_planner)
+# ---------------------------------------------------------------------------
+
+
+class TestPromptOverride:
+    """decide() must use prompt_override when present in market_data."""
+
+    @pytest.mark.asyncio
+    async def test_prompt_override_is_sent_to_gemini(self, settings):
+        """When prompt_override is in market_data, it should be used as the prompt."""
+        client = GeminiClient(settings)
+
+        custom_prompt = "You are a playbook generator. Return JSON with scenarios."
+        playbook_json = '{"market_outlook": "neutral", "stocks": []}'
+
+        mock_response = MagicMock()
+        mock_response.text = playbook_json
+
+        with patch.object(
+            client._client.aio.models,
+            "generate_content",
+            new_callable=AsyncMock,
+            return_value=mock_response,
+        ) as mock_generate:
+            market_data = {
+                "stock_code": "PLANNER",
+                "current_price": 0,
+                "prompt_override": custom_prompt,
+            }
+            decision = await client.decide(market_data)
+
+            # Verify the custom prompt was sent, not a built prompt
+            mock_generate.assert_called_once()
+            actual_prompt = mock_generate.call_args[1].get(
+                "contents", mock_generate.call_args[0][1] if len(mock_generate.call_args[0]) > 1 else None
+            )
+            assert actual_prompt == custom_prompt
+            # Raw response preserved in rationale without parse_response (#247)
+            assert decision.rationale == playbook_json
+
+    @pytest.mark.asyncio
+    async def test_prompt_override_skips_parse_response(self, settings):
+        """prompt_override bypasses parse_response — no Missing fields warning, raw preserved."""
+        client = GeminiClient(settings)
+        client._enable_optimization = True
+
+        custom_prompt = "Custom playbook prompt"
+        playbook_json = '{"market_outlook": "bullish", "stocks": [{"stock_code": "AAPL"}]}'
+
+        mock_response = MagicMock()
+        mock_response.text = playbook_json
+
+        with patch.object(
+            client._client.aio.models,
+            "generate_content",
+            new_callable=AsyncMock,
+            return_value=mock_response,
+        ):
+            with patch.object(client, "parse_response") as mock_parse:
+                market_data = {
+                    "stock_code": "PLANNER",
+                    "current_price": 0,
+                    "prompt_override": custom_prompt,
+                }
+                decision = await client.decide(market_data)
+
+                # parse_response must NOT be called for prompt_override
+                mock_parse.assert_not_called()
+                # Raw playbook JSON preserved in rationale
+                assert decision.rationale == playbook_json
+
+    @pytest.mark.asyncio
+    async def test_prompt_override_takes_priority_over_optimization(self, settings):
+        """prompt_override must win over enable_optimization=True."""
+        client = GeminiClient(settings)
+        client._enable_optimization = True
+
+        custom_prompt = "Explicit playbook prompt"
+
+        mock_response = MagicMock()
+        mock_response.text = '{"market_outlook": "neutral", "stocks": []}'
+
+        with patch.object(
+            client._client.aio.models,
+            "generate_content",
+            new_callable=AsyncMock,
+            return_value=mock_response,
+        ) as mock_generate:
+            market_data = {
+                "stock_code": "PLANNER",
+                "current_price": 0,
+                "prompt_override": custom_prompt,
+            }
+            await client.decide(market_data)
+
+            actual_prompt = mock_generate.call_args[1].get(
+                "contents", mock_generate.call_args[0][1] if len(mock_generate.call_args[0]) > 1 else None
+            )
+            # The custom prompt must be used, not the compressed prompt
+            assert actual_prompt == custom_prompt
+
+    @pytest.mark.asyncio
+    async def test_without_prompt_override_uses_build_prompt(self, settings):
+        """Without prompt_override, decide() should use build_prompt as before."""
+        client = GeminiClient(settings)
+
+        mock_response = MagicMock()
+        mock_response.text = '{"action": "HOLD", "confidence": 50, "rationale": "ok"}'
+
+        with patch.object(
+            client._client.aio.models,
+            "generate_content",
+            new_callable=AsyncMock,
+            return_value=mock_response,
+        ) as mock_generate:
+            market_data = {
+                "stock_code": "005930",
+                "current_price": 72000,
+            }
+            await client.decide(market_data)
+
+            actual_prompt = mock_generate.call_args[1].get(
+                "contents", mock_generate.call_args[0][1] if len(mock_generate.call_args[0]) > 1 else None
+            )
+            # Should contain stock code from build_prompt, not be a custom override
+            assert "005930" in actual_prompt

tests/test_broker.py

@@ -3,7 +3,7 @@
 from __future__ import annotations
 
 import asyncio
-from unittest.mock import AsyncMock, patch
+from unittest.mock import AsyncMock, MagicMock, patch
 
 import pytest
 
@@ -90,12 +90,12 @@ class TestTokenManagement:
         await broker.close()
 
     @pytest.mark.asyncio
-    async def test_token_refresh_cooldown_prevents_rapid_retries(self, settings):
-        """Token refresh should enforce cooldown after failure (issue #54)."""
+    async def test_token_refresh_cooldown_waits_then_retries(self, settings):
+        """Token refresh should wait out cooldown then retry (issue #54)."""
         broker = KISBroker(settings)
-        broker._refresh_cooldown = 2.0  # Short cooldown for testing
+        broker._refresh_cooldown = 0.1  # Short cooldown for testing
 
-        # First refresh attempt fails with 403 (EGW00133)
+        # All attempts fail with 403 (EGW00133)
         mock_resp_403 = AsyncMock()
         mock_resp_403.status = 403
         mock_resp_403.text = AsyncMock(
@@ -109,8 +109,8 @@ class TestTokenManagement:
             with pytest.raises(ConnectionError, match="Token refresh failed"):
                 await broker._ensure_token()
 
-            # Second attempt within cooldown should fail with cooldown error
-            with pytest.raises(ConnectionError, match="Token refresh on cooldown"):
+            # Second attempt within cooldown should wait then retry (and still get 403)
+            with pytest.raises(ConnectionError, match="Token refresh failed"):
                 await broker._ensure_token()
 
         await broker.close()
@@ -296,3 +296,647 @@ class TestHashKey:
                 mock_acquire.assert_called_once()
 
         await broker.close()
+
+
+# ---------------------------------------------------------------------------
+# fetch_market_rankings — TR_ID, path, params (issue #155)
+# ---------------------------------------------------------------------------
+
+
+def _make_ranking_mock(items: list[dict]) -> AsyncMock:
+    """Build a mock HTTP response returning ranking items."""
+    mock_resp = AsyncMock()
+    mock_resp.status = 200
+    mock_resp.json = AsyncMock(return_value={"output": items})
+    mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+    mock_resp.__aexit__ = AsyncMock(return_value=False)
+    return mock_resp
+
+
+class TestFetchMarketRankings:
+    """Verify correct TR_ID, API path, and params per ranking_type (issue #155)."""
+
+    @pytest.fixture
+    def broker(self, settings) -> KISBroker:
+        b = KISBroker(settings)
+        b._access_token = "tok"
+        b._token_expires_at = float("inf")
+        b._rate_limiter.acquire = AsyncMock()
+        return b
+
+    @pytest.mark.asyncio
+    async def test_volume_uses_correct_tr_id_and_path(self, broker: KISBroker) -> None:
+        mock_resp = _make_ranking_mock([])
+        with patch("aiohttp.ClientSession.get", return_value=mock_resp) as mock_get:
+            await broker.fetch_market_rankings(ranking_type="volume")
+
+        call_kwargs = mock_get.call_args
+        url = call_kwargs[0][0] if call_kwargs[0] else call_kwargs[1].get("url", "")
+        headers = call_kwargs[1].get("headers", {})
+        params = call_kwargs[1].get("params", {})
+
+        assert "volume-rank" in url
+        assert headers.get("tr_id") == "FHPST01710000"
+        assert params.get("FID_COND_SCR_DIV_CODE") == "20171"
+        assert params.get("FID_TRGT_EXLS_CLS_CODE") == "0000000000"
+
+    @pytest.mark.asyncio
+    async def test_fluctuation_uses_correct_tr_id_and_path(self, broker: KISBroker) -> None:
+        mock_resp = _make_ranking_mock([])
+        with patch("aiohttp.ClientSession.get", return_value=mock_resp) as mock_get:
+            await broker.fetch_market_rankings(ranking_type="fluctuation")
+
+        call_kwargs = mock_get.call_args
+        url = call_kwargs[0][0] if call_kwargs[0] else call_kwargs[1].get("url", "")
+        headers = call_kwargs[1].get("headers", {})
+        params = call_kwargs[1].get("params", {})
+
+        assert "ranking/fluctuation" in url
+        assert headers.get("tr_id") == "FHPST01700000"
+        assert params.get("fid_cond_scr_div_code") == "20170"
+        # 실전 API는 4자리("0000") 거부 — 1자리("0")여야 한다 (#240)
+        assert params.get("fid_rank_sort_cls_code") == "0"
+
+    @pytest.mark.asyncio
+    async def test_volume_returns_parsed_rows(self, broker: KISBroker) -> None:
+        items = [
+            {
+                "mksc_shrn_iscd": "005930",
+                "hts_kor_isnm": "삼성전자",
+                "stck_prpr": "75000",
+                "acml_vol": "10000000",
+                "prdy_ctrt": "2.5",
+                "vol_inrt": "150",
+            }
+        ]
+        mock_resp = _make_ranking_mock(items)
+        with patch("aiohttp.ClientSession.get", return_value=mock_resp):
+            result = await broker.fetch_market_rankings(ranking_type="volume")
+
+        assert len(result) == 1
+        assert result[0]["stock_code"] == "005930"
+        assert result[0]["price"] == 75000.0
+        assert result[0]["change_rate"] == 2.5
+
+    @pytest.mark.asyncio
+    async def test_fluctuation_parses_stck_shrn_iscd(self, broker: KISBroker) -> None:
+        """실전 API는 mksc_shrn_iscd 대신 stck_shrn_iscd를 반환한다 (#240)."""
+        items = [
+            {
+                "stck_shrn_iscd": "015260",
+                "hts_kor_isnm": "에이엔피",
+                "stck_prpr": "794",
+                "acml_vol": "4896196",
+                "prdy_ctrt": "29.74",
+                "vol_inrt": "0",
+            }
+        ]
+        mock_resp = _make_ranking_mock(items)
+        with patch("aiohttp.ClientSession.get", return_value=mock_resp):
+            result = await broker.fetch_market_rankings(ranking_type="fluctuation")
+
+        assert len(result) == 1
+        assert result[0]["stock_code"] == "015260"
+        assert result[0]["change_rate"] == 29.74
+
+
+# ---------------------------------------------------------------------------
+# KRX tick unit / round-down helpers (issue #157)
+# ---------------------------------------------------------------------------
+
+
+from src.broker.kis_api import kr_tick_unit, kr_round_down  # noqa: E402
+
+
+class TestKrTickUnit:
+    """kr_tick_unit and kr_round_down must implement KRX price tick rules."""
+
+    @pytest.mark.parametrize(
+        "price, expected_tick",
+        [
+            (1999, 1),
+            (2000, 5),
+            (4999, 5),
+            (5000, 10),
+            (19999, 10),
+            (20000, 50),
+            (49999, 50),
+            (50000, 100),
+            (199999, 100),
+            (200000, 500),
+            (499999, 500),
+            (500000, 1000),
+            (1000000, 1000),
+        ],
+    )
+    def test_tick_unit_boundaries(self, price: int, expected_tick: int) -> None:
+        assert kr_tick_unit(price) == expected_tick
+
+    @pytest.mark.parametrize(
+        "price, expected_rounded",
+        [
+            (188150, 188100),   # 100원 단위, 50원 잔여 → 내림
+            (188100, 188100),   # 이미 정렬됨
+            (75050, 75000),     # 100원 단위, 50원 잔여 → 내림
+            (49950, 49950),     # 50원 단위 정렬됨
+            (49960, 49950),     # 50원 단위, 10원 잔여 → 내림
+            (1999, 1999),       # 1원 단위 → 그대로
+            (5003, 5000),       # 10원 단위, 3원 잔여 → 내림
+        ],
+    )
+    def test_round_down_to_tick(self, price: int, expected_rounded: int) -> None:
+        assert kr_round_down(price) == expected_rounded
+
+
+# ---------------------------------------------------------------------------
+# get_current_price (issue #157)
+# ---------------------------------------------------------------------------
+
+
+class TestGetCurrentPrice:
+    """get_current_price must use inquire-price API and return (price, change, foreigner)."""
+
+    @pytest.fixture
+    def broker(self, settings) -> KISBroker:
+        b = KISBroker(settings)
+        b._access_token = "tok"
+        b._token_expires_at = float("inf")
+        b._rate_limiter.acquire = AsyncMock()
+        return b
+
+    @pytest.mark.asyncio
+    async def test_returns_correct_fields(self, broker: KISBroker) -> None:
+        mock_resp = AsyncMock()
+        mock_resp.status = 200
+        mock_resp.json = AsyncMock(
+            return_value={
+                "rt_cd": "0",
+                "output": {
+                    "stck_prpr": "188600",
+                    "prdy_ctrt": "3.97",
+                    "frgn_ntby_qty": "12345",
+                },
+            }
+        )
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        with patch("aiohttp.ClientSession.get", return_value=mock_resp) as mock_get:
+            price, change_pct, foreigner = await broker.get_current_price("005930")
+
+        assert price == 188600.0
+        assert change_pct == 3.97
+        assert foreigner == 12345.0
+
+        call_kwargs = mock_get.call_args
+        url = call_kwargs[0][0] if call_kwargs[0] else call_kwargs[1].get("url", "")
+        headers = call_kwargs[1].get("headers", {})
+        assert "inquire-price" in url
+        assert headers.get("tr_id") == "FHKST01010100"
+
+    @pytest.mark.asyncio
+    async def test_http_error_raises_connection_error(self, broker: KISBroker) -> None:
+        mock_resp = AsyncMock()
+        mock_resp.status = 500
+        mock_resp.text = AsyncMock(return_value="Internal Server Error")
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        with patch("aiohttp.ClientSession.get", return_value=mock_resp):
+            with pytest.raises(ConnectionError, match="get_current_price failed"):
+                await broker.get_current_price("005930")
+
+
+# ---------------------------------------------------------------------------
+# send_order tick rounding and ORD_DVSN (issue #157)
+# ---------------------------------------------------------------------------
+
+
+class TestSendOrderTickRounding:
+    """send_order must apply KRX tick rounding and correct ORD_DVSN codes."""
+
+    @pytest.fixture
+    def broker(self, settings) -> KISBroker:
+        b = KISBroker(settings)
+        b._access_token = "tok"
+        b._token_expires_at = float("inf")
+        b._rate_limiter.acquire = AsyncMock()
+        return b
+
+    @pytest.mark.asyncio
+    async def test_limit_order_rounds_down_to_tick(self, broker: KISBroker) -> None:
+        """Price 188150 (not on 100-won tick) must be rounded to 188100."""
+        mock_hash = AsyncMock()
+        mock_hash.status = 200
+        mock_hash.json = AsyncMock(return_value={"HASH": "h"})
+        mock_hash.__aenter__ = AsyncMock(return_value=mock_hash)
+        mock_hash.__aexit__ = AsyncMock(return_value=False)
+
+        mock_order = AsyncMock()
+        mock_order.status = 200
+        mock_order.json = AsyncMock(return_value={"rt_cd": "0"})
+        mock_order.__aenter__ = AsyncMock(return_value=mock_order)
+        mock_order.__aexit__ = AsyncMock(return_value=False)
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.send_order("005930", "BUY", 1, price=188150)
+
+        order_call = mock_post.call_args_list[1]
+        body = order_call[1].get("json", {})
+        assert body["ORD_UNPR"] == "188100"  # rounded down
+        assert body["ORD_DVSN"] == "00"       # 지정가
+
+    @pytest.mark.asyncio
+    async def test_limit_order_ord_dvsn_is_00(self, broker: KISBroker) -> None:
+        """send_order with price>0 must use ORD_DVSN='00' (지정가)."""
+        mock_hash = AsyncMock()
+        mock_hash.status = 200
+        mock_hash.json = AsyncMock(return_value={"HASH": "h"})
+        mock_hash.__aenter__ = AsyncMock(return_value=mock_hash)
+        mock_hash.__aexit__ = AsyncMock(return_value=False)
+
+        mock_order = AsyncMock()
+        mock_order.status = 200
+        mock_order.json = AsyncMock(return_value={"rt_cd": "0"})
+        mock_order.__aenter__ = AsyncMock(return_value=mock_order)
+        mock_order.__aexit__ = AsyncMock(return_value=False)
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.send_order("005930", "BUY", 1, price=50000)
+
+        order_call = mock_post.call_args_list[1]
+        body = order_call[1].get("json", {})
+        assert body["ORD_DVSN"] == "00"
+
+    @pytest.mark.asyncio
+    async def test_market_order_ord_dvsn_is_01(self, broker: KISBroker) -> None:
+        """send_order with price=0 must use ORD_DVSN='01' (시장가)."""
+        mock_hash = AsyncMock()
+        mock_hash.status = 200
+        mock_hash.json = AsyncMock(return_value={"HASH": "h"})
+        mock_hash.__aenter__ = AsyncMock(return_value=mock_hash)
+        mock_hash.__aexit__ = AsyncMock(return_value=False)
+
+        mock_order = AsyncMock()
+        mock_order.status = 200
+        mock_order.json = AsyncMock(return_value={"rt_cd": "0"})
+        mock_order.__aenter__ = AsyncMock(return_value=mock_order)
+        mock_order.__aexit__ = AsyncMock(return_value=False)
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.send_order("005930", "SELL", 1, price=0)
+
+        order_call = mock_post.call_args_list[1]
+        body = order_call[1].get("json", {})
+        assert body["ORD_DVSN"] == "01"
+
+
+# ---------------------------------------------------------------------------
+# TR_ID live/paper branching (issues #201, #202, #203)
+# ---------------------------------------------------------------------------
+
+
+class TestTRIDBranchingDomestic:
+    """get_balance and send_order must use correct TR_ID for live vs paper mode."""
+
+    def _make_broker(self, settings, mode: str) -> KISBroker:
+        from src.config import Settings
+
+        s = Settings(
+            KIS_APP_KEY=settings.KIS_APP_KEY,
+            KIS_APP_SECRET=settings.KIS_APP_SECRET,
+            KIS_ACCOUNT_NO=settings.KIS_ACCOUNT_NO,
+            GEMINI_API_KEY=settings.GEMINI_API_KEY,
+            DB_PATH=":memory:",
+            ENABLED_MARKETS="KR",
+            MODE=mode,
+        )
+        b = KISBroker(s)
+        b._access_token = "tok"
+        b._token_expires_at = float("inf")
+        b._rate_limiter.acquire = AsyncMock()
+        return b
+
+    @pytest.mark.asyncio
+    async def test_get_balance_paper_uses_vttc8434r(self, settings) -> None:
+        broker = self._make_broker(settings, "paper")
+        mock_resp = AsyncMock()
+        mock_resp.status = 200
+        mock_resp.json = AsyncMock(
+            return_value={"output1": [], "output2": {}}
+        )
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        with patch("aiohttp.ClientSession.get", return_value=mock_resp) as mock_get:
+            await broker.get_balance()
+
+        headers = mock_get.call_args[1].get("headers", {})
+        assert headers["tr_id"] == "VTTC8434R"
+
+    @pytest.mark.asyncio
+    async def test_get_balance_live_uses_tttc8434r(self, settings) -> None:
+        broker = self._make_broker(settings, "live")
+        mock_resp = AsyncMock()
+        mock_resp.status = 200
+        mock_resp.json = AsyncMock(
+            return_value={"output1": [], "output2": {}}
+        )
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        with patch("aiohttp.ClientSession.get", return_value=mock_resp) as mock_get:
+            await broker.get_balance()
+
+        headers = mock_get.call_args[1].get("headers", {})
+        assert headers["tr_id"] == "TTTC8434R"
+
+    @pytest.mark.asyncio
+    async def test_send_order_buy_paper_uses_vttc0012u(self, settings) -> None:
+        broker = self._make_broker(settings, "paper")
+        mock_hash = AsyncMock()
+        mock_hash.status = 200
+        mock_hash.json = AsyncMock(return_value={"HASH": "h"})
+        mock_hash.__aenter__ = AsyncMock(return_value=mock_hash)
+        mock_hash.__aexit__ = AsyncMock(return_value=False)
+
+        mock_order = AsyncMock()
+        mock_order.status = 200
+        mock_order.json = AsyncMock(return_value={"rt_cd": "0"})
+        mock_order.__aenter__ = AsyncMock(return_value=mock_order)
+        mock_order.__aexit__ = AsyncMock(return_value=False)
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.send_order("005930", "BUY", 1)
+
+        order_headers = mock_post.call_args_list[1][1].get("headers", {})
+        assert order_headers["tr_id"] == "VTTC0012U"
+
+    @pytest.mark.asyncio
+    async def test_send_order_buy_live_uses_tttc0012u(self, settings) -> None:
+        broker = self._make_broker(settings, "live")
+        mock_hash = AsyncMock()
+        mock_hash.status = 200
+        mock_hash.json = AsyncMock(return_value={"HASH": "h"})
+        mock_hash.__aenter__ = AsyncMock(return_value=mock_hash)
+        mock_hash.__aexit__ = AsyncMock(return_value=False)
+
+        mock_order = AsyncMock()
+        mock_order.status = 200
+        mock_order.json = AsyncMock(return_value={"rt_cd": "0"})
+        mock_order.__aenter__ = AsyncMock(return_value=mock_order)
+        mock_order.__aexit__ = AsyncMock(return_value=False)
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.send_order("005930", "BUY", 1)
+
+        order_headers = mock_post.call_args_list[1][1].get("headers", {})
+        assert order_headers["tr_id"] == "TTTC0012U"
+
+    @pytest.mark.asyncio
+    async def test_send_order_sell_paper_uses_vttc0011u(self, settings) -> None:
+        broker = self._make_broker(settings, "paper")
+        mock_hash = AsyncMock()
+        mock_hash.status = 200
+        mock_hash.json = AsyncMock(return_value={"HASH": "h"})
+        mock_hash.__aenter__ = AsyncMock(return_value=mock_hash)
+        mock_hash.__aexit__ = AsyncMock(return_value=False)
+
+        mock_order = AsyncMock()
+        mock_order.status = 200
+        mock_order.json = AsyncMock(return_value={"rt_cd": "0"})
+        mock_order.__aenter__ = AsyncMock(return_value=mock_order)
+        mock_order.__aexit__ = AsyncMock(return_value=False)
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.send_order("005930", "SELL", 1)
+
+        order_headers = mock_post.call_args_list[1][1].get("headers", {})
+        assert order_headers["tr_id"] == "VTTC0011U"
+
+    @pytest.mark.asyncio
+    async def test_send_order_sell_live_uses_tttc0011u(self, settings) -> None:
+        broker = self._make_broker(settings, "live")
+        mock_hash = AsyncMock()
+        mock_hash.status = 200
+        mock_hash.json = AsyncMock(return_value={"HASH": "h"})
+        mock_hash.__aenter__ = AsyncMock(return_value=mock_hash)
+        mock_hash.__aexit__ = AsyncMock(return_value=False)
+
+        mock_order = AsyncMock()
+        mock_order.status = 200
+        mock_order.json = AsyncMock(return_value={"rt_cd": "0"})
+        mock_order.__aenter__ = AsyncMock(return_value=mock_order)
+        mock_order.__aexit__ = AsyncMock(return_value=False)
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.send_order("005930", "SELL", 1)
+
+        order_headers = mock_post.call_args_list[1][1].get("headers", {})
+        assert order_headers["tr_id"] == "TTTC0011U"
+
+
+# ---------------------------------------------------------------------------
+# Domestic Pending Orders (get_domestic_pending_orders)
+# ---------------------------------------------------------------------------
+
+
+class TestGetDomesticPendingOrders:
+    """get_domestic_pending_orders must return [] in paper mode and call TTTC0084R in live."""
+
+    def _make_broker(self, settings, mode: str) -> KISBroker:
+        from src.config import Settings
+
+        s = Settings(
+            KIS_APP_KEY=settings.KIS_APP_KEY,
+            KIS_APP_SECRET=settings.KIS_APP_SECRET,
+            KIS_ACCOUNT_NO=settings.KIS_ACCOUNT_NO,
+            GEMINI_API_KEY=settings.GEMINI_API_KEY,
+            DB_PATH=":memory:",
+            ENABLED_MARKETS="KR",
+            MODE=mode,
+        )
+        b = KISBroker(s)
+        b._access_token = "tok"
+        b._token_expires_at = float("inf")
+        b._rate_limiter.acquire = AsyncMock()
+        return b
+
+    @pytest.mark.asyncio
+    async def test_paper_mode_returns_empty(self, settings) -> None:
+        """Paper mode must return [] immediately without any API call."""
+        broker = self._make_broker(settings, "paper")
+
+        with patch("aiohttp.ClientSession.get") as mock_get:
+            result = await broker.get_domestic_pending_orders()
+
+        assert result == []
+        mock_get.assert_not_called()
+
+    @pytest.mark.asyncio
+    async def test_live_mode_calls_tttc0084r_with_correct_params(
+        self, settings
+    ) -> None:
+        """Live mode must call TTTC0084R with INQR_DVSN_1/2 and paging params."""
+        broker = self._make_broker(settings, "live")
+        pending = [{"odno": "001", "pdno": "005930", "psbl_qty": "10"}]
+        mock_resp = AsyncMock()
+        mock_resp.status = 200
+        mock_resp.json = AsyncMock(return_value={"output": pending})
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        with patch("aiohttp.ClientSession.get", return_value=mock_resp) as mock_get:
+            result = await broker.get_domestic_pending_orders()
+
+        assert result == pending
+        headers = mock_get.call_args[1].get("headers", {})
+        assert headers["tr_id"] == "TTTC0084R"
+        params = mock_get.call_args[1].get("params", {})
+        assert params["INQR_DVSN_1"] == "0"
+        assert params["INQR_DVSN_2"] == "0"
+
+    @pytest.mark.asyncio
+    async def test_live_mode_connection_error(self, settings) -> None:
+        """Network error must raise ConnectionError."""
+        import aiohttp as _aiohttp
+
+        broker = self._make_broker(settings, "live")
+
+        with patch(
+            "aiohttp.ClientSession.get",
+            side_effect=_aiohttp.ClientError("timeout"),
+        ):
+            with pytest.raises(ConnectionError):
+                await broker.get_domestic_pending_orders()
+
+
+# ---------------------------------------------------------------------------
+# Domestic Order Cancellation (cancel_domestic_order)
+# ---------------------------------------------------------------------------
+
+
+class TestCancelDomesticOrder:
+    """cancel_domestic_order must use correct TR_ID and build body correctly."""
+
+    def _make_broker(self, settings, mode: str) -> KISBroker:
+        from src.config import Settings
+
+        s = Settings(
+            KIS_APP_KEY=settings.KIS_APP_KEY,
+            KIS_APP_SECRET=settings.KIS_APP_SECRET,
+            KIS_ACCOUNT_NO=settings.KIS_ACCOUNT_NO,
+            GEMINI_API_KEY=settings.GEMINI_API_KEY,
+            DB_PATH=":memory:",
+            ENABLED_MARKETS="KR",
+            MODE=mode,
+        )
+        b = KISBroker(s)
+        b._access_token = "tok"
+        b._token_expires_at = float("inf")
+        b._rate_limiter.acquire = AsyncMock()
+        return b
+
+    def _make_post_mocks(self, order_payload: dict) -> tuple:
+        mock_hash = AsyncMock()
+        mock_hash.status = 200
+        mock_hash.json = AsyncMock(return_value={"HASH": "h"})
+        mock_hash.__aenter__ = AsyncMock(return_value=mock_hash)
+        mock_hash.__aexit__ = AsyncMock(return_value=False)
+
+        mock_order = AsyncMock()
+        mock_order.status = 200
+        mock_order.json = AsyncMock(return_value=order_payload)
+        mock_order.__aenter__ = AsyncMock(return_value=mock_order)
+        mock_order.__aexit__ = AsyncMock(return_value=False)
+
+        return mock_hash, mock_order
+
+    @pytest.mark.asyncio
+    async def test_live_uses_tttc0013u(self, settings) -> None:
+        """Live mode must use TR_ID TTTC0013U."""
+        broker = self._make_broker(settings, "live")
+        mock_hash, mock_order = self._make_post_mocks({"rt_cd": "0"})
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.cancel_domestic_order("005930", "ORD001", "BRNO01", 5)
+
+        order_headers = mock_post.call_args_list[1][1].get("headers", {})
+        assert order_headers["tr_id"] == "TTTC0013U"
+
+    @pytest.mark.asyncio
+    async def test_paper_uses_vttc0013u(self, settings) -> None:
+        """Paper mode must use TR_ID VTTC0013U."""
+        broker = self._make_broker(settings, "paper")
+        mock_hash, mock_order = self._make_post_mocks({"rt_cd": "0"})
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.cancel_domestic_order("005930", "ORD001", "BRNO01", 5)
+
+        order_headers = mock_post.call_args_list[1][1].get("headers", {})
+        assert order_headers["tr_id"] == "VTTC0013U"
+
+    @pytest.mark.asyncio
+    async def test_cancel_sets_rvse_cncl_dvsn_cd_02(self, settings) -> None:
+        """Body must have RVSE_CNCL_DVSN_CD='02' (취소) and QTY_ALL_ORD_YN='Y'."""
+        broker = self._make_broker(settings, "live")
+        mock_hash, mock_order = self._make_post_mocks({"rt_cd": "0"})
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.cancel_domestic_order("005930", "ORD001", "BRNO01", 5)
+
+        body = mock_post.call_args_list[1][1].get("json", {})
+        assert body["RVSE_CNCL_DVSN_CD"] == "02"
+        assert body["QTY_ALL_ORD_YN"] == "Y"
+        assert body["ORD_UNPR"] == "0"
+
+    @pytest.mark.asyncio
+    async def test_cancel_sets_krx_fwdg_ord_orgno_in_body(self, settings) -> None:
+        """Body must include KRX_FWDG_ORD_ORGNO and ORGN_ODNO from arguments."""
+        broker = self._make_broker(settings, "live")
+        mock_hash, mock_order = self._make_post_mocks({"rt_cd": "0"})
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.cancel_domestic_order("005930", "ORD123", "BRN456", 3)
+
+        body = mock_post.call_args_list[1][1].get("json", {})
+        assert body["KRX_FWDG_ORD_ORGNO"] == "BRN456"
+        assert body["ORGN_ODNO"] == "ORD123"
+        assert body["ORD_QTY"] == "3"
+
+    @pytest.mark.asyncio
+    async def test_cancel_sets_hashkey_header(self, settings) -> None:
+        """Request must include hashkey header (same pattern as send_order)."""
+        broker = self._make_broker(settings, "live")
+        mock_hash, mock_order = self._make_post_mocks({"rt_cd": "0"})
+
+        with patch(
+            "aiohttp.ClientSession.post", side_effect=[mock_hash, mock_order]
+        ) as mock_post:
+            await broker.cancel_domestic_order("005930", "ORD001", "BRNO01", 2)
+
+        order_headers = mock_post.call_args_list[1][1].get("headers", {})
+        assert "hashkey" in order_headers
+        assert order_headers["hashkey"] == "h"

tests/test_context.py

@@ -10,6 +10,7 @@ import pytest
 from src.context.aggregator import ContextAggregator
 from src.context.layer import LAYER_CONFIG, ContextLayer
 from src.context.store import ContextStore
+from src.context.summarizer import ContextSummarizer
 from src.db import init_db, log_trade
 
 
@@ -370,3 +371,259 @@ class TestLayerMetadata:
 
         # L1 aggregates from L2
         assert LAYER_CONFIG[ContextLayer.L1_LEGACY].aggregation_source == ContextLayer.L2_ANNUAL
+
+
+# ---------------------------------------------------------------------------
+# ContextSummarizer tests
+# ---------------------------------------------------------------------------
+
+
+@pytest.fixture
+def summarizer(db_conn: sqlite3.Connection) -> ContextSummarizer:
+    """Provide a ContextSummarizer backed by an in-memory store."""
+    return ContextSummarizer(ContextStore(db_conn))
+
+
+class TestContextSummarizer:
+    """Test suite for ContextSummarizer."""
+
+    # ------------------------------------------------------------------
+    # summarize_numeric_values
+    # ------------------------------------------------------------------
+
+    def test_summarize_empty_values(self, summarizer: ContextSummarizer) -> None:
+        """Empty list must return SummaryStats with count=0 and no other fields."""
+        stats = summarizer.summarize_numeric_values([])
+        assert stats.count == 0
+        assert stats.mean is None
+        assert stats.min is None
+        assert stats.max is None
+
+    def test_summarize_single_value(self, summarizer: ContextSummarizer) -> None:
+        """Single-element list must return correct stats with std=0 and trend=flat."""
+        stats = summarizer.summarize_numeric_values([42.0])
+        assert stats.count == 1
+        assert stats.mean == 42.0
+        assert stats.std == 0.0
+        assert stats.trend == "flat"
+
+    def test_summarize_upward_trend(self, summarizer: ContextSummarizer) -> None:
+        """Increasing values must produce trend='up'."""
+        values = [1.0, 2.0, 3.0, 10.0, 20.0, 30.0]
+        stats = summarizer.summarize_numeric_values(values)
+        assert stats.trend == "up"
+
+    def test_summarize_downward_trend(self, summarizer: ContextSummarizer) -> None:
+        """Decreasing values must produce trend='down'."""
+        values = [30.0, 20.0, 10.0, 3.0, 2.0, 1.0]
+        stats = summarizer.summarize_numeric_values(values)
+        assert stats.trend == "down"
+
+    def test_summarize_flat_trend(self, summarizer: ContextSummarizer) -> None:
+        """Stable values must produce trend='flat'."""
+        values = [100.0, 100.1, 99.9, 100.0, 100.2, 99.8]
+        stats = summarizer.summarize_numeric_values(values)
+        assert stats.trend == "flat"
+
+    # ------------------------------------------------------------------
+    # summarize_layer
+    # ------------------------------------------------------------------
+
+    def test_summarize_layer_no_data(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """summarize_layer with no data must return the 'No data' sentinel."""
+        result = summarizer.summarize_layer(ContextLayer.L6_DAILY)
+        assert result["count"] == 0
+        assert "No data" in result["summary"]
+
+    def test_summarize_layer_numeric(
+        self, summarizer: ContextSummarizer, db_conn: sqlite3.Connection
+    ) -> None:
+        """summarize_layer must collect numeric values and produce stats."""
+        store = summarizer.store
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "total_pnl", 100.0)
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-02", "total_pnl", 200.0)
+
+        result = summarizer.summarize_layer(ContextLayer.L6_DAILY)
+        assert "total_entries" in result
+
+    def test_summarize_layer_with_dict_values(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """summarize_layer must handle dict values by extracting numeric subkeys."""
+        store = summarizer.store
+        # set_context serialises the value as JSON, so passing a dict works
+        store.set_context(
+            ContextLayer.L6_DAILY, "2026-02-01", "metrics",
+            {"win_rate": 65.0, "label": "good"}
+        )
+
+        result = summarizer.summarize_layer(ContextLayer.L6_DAILY)
+        assert "total_entries" in result
+        # numeric subkey "win_rate" should appear as "metrics.win_rate"
+        assert "metrics.win_rate" in result
+
+    def test_summarize_layer_with_string_values(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """summarize_layer must count string values separately."""
+        store = summarizer.store
+        # set_context stores string values as JSON-encoded strings
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "outlook", "BULLISH")
+
+        result = summarizer.summarize_layer(ContextLayer.L6_DAILY)
+        # String fields contribute a `<key>_count` entry
+        assert "outlook_count" in result
+
+    # ------------------------------------------------------------------
+    # rolling_window_summary
+    # ------------------------------------------------------------------
+
+    def test_rolling_window_summary_basic(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """rolling_window_summary must return the expected structure."""
+        store = summarizer.store
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "pnl", 500.0)
+
+        result = summarizer.rolling_window_summary(ContextLayer.L6_DAILY)
+        assert "window_days" in result
+        assert "recent_data" in result
+        assert "historical_summary" in result
+
+    def test_rolling_window_summary_no_older_data(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """rolling_window_summary with summarize_older=False skips history."""
+        result = summarizer.rolling_window_summary(
+            ContextLayer.L6_DAILY, summarize_older=False
+        )
+        assert result["historical_summary"] == {}
+
+    # ------------------------------------------------------------------
+    # aggregate_to_higher_layer
+    # ------------------------------------------------------------------
+
+    def test_aggregate_to_higher_layer_mean(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """aggregate_to_higher_layer with 'mean' via dict subkeys returns average."""
+        store = summarizer.store
+        # Use different outer keys but same inner metric key so get_all_contexts
+        # returns multiple rows with the target subkey.
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "day1", {"pnl": 100.0})
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "day2", {"pnl": 200.0})
+
+        result = summarizer.aggregate_to_higher_layer(
+            ContextLayer.L6_DAILY, ContextLayer.L5_WEEKLY, "pnl", "mean"
+        )
+        assert result == pytest.approx(150.0)
+
+    def test_aggregate_to_higher_layer_sum(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """aggregate_to_higher_layer with 'sum' must return the total."""
+        store = summarizer.store
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "day1", {"pnl": 100.0})
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "day2", {"pnl": 200.0})
+
+        result = summarizer.aggregate_to_higher_layer(
+            ContextLayer.L6_DAILY, ContextLayer.L5_WEEKLY, "pnl", "sum"
+        )
+        assert result == pytest.approx(300.0)
+
+    def test_aggregate_to_higher_layer_max(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """aggregate_to_higher_layer with 'max' must return the maximum."""
+        store = summarizer.store
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "day1", {"pnl": 100.0})
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "day2", {"pnl": 200.0})
+
+        result = summarizer.aggregate_to_higher_layer(
+            ContextLayer.L6_DAILY, ContextLayer.L5_WEEKLY, "pnl", "max"
+        )
+        assert result == pytest.approx(200.0)
+
+    def test_aggregate_to_higher_layer_min(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """aggregate_to_higher_layer with 'min' must return the minimum."""
+        store = summarizer.store
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "day1", {"pnl": 100.0})
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "day2", {"pnl": 200.0})
+
+        result = summarizer.aggregate_to_higher_layer(
+            ContextLayer.L6_DAILY, ContextLayer.L5_WEEKLY, "pnl", "min"
+        )
+        assert result == pytest.approx(100.0)
+
+    def test_aggregate_to_higher_layer_no_data(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """aggregate_to_higher_layer with no matching key must return None."""
+        result = summarizer.aggregate_to_higher_layer(
+            ContextLayer.L6_DAILY, ContextLayer.L5_WEEKLY, "nonexistent", "mean"
+        )
+        assert result is None
+
+    def test_aggregate_to_higher_layer_unknown_func_defaults_to_mean(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """Unknown aggregation function must fall back to mean."""
+        store = summarizer.store
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "day1", {"pnl": 100.0})
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "day2", {"pnl": 200.0})
+
+        result = summarizer.aggregate_to_higher_layer(
+            ContextLayer.L6_DAILY, ContextLayer.L5_WEEKLY, "pnl", "unknown_func"
+        )
+        assert result == pytest.approx(150.0)
+
+    # ------------------------------------------------------------------
+    # create_compact_summary + format_summary_for_prompt
+    # ------------------------------------------------------------------
+
+    def test_create_compact_summary(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """create_compact_summary must produce a dict keyed by layer value."""
+        store = summarizer.store
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "pnl", 100.0)
+
+        result = summarizer.create_compact_summary([ContextLayer.L6_DAILY])
+        assert ContextLayer.L6_DAILY.value in result
+
+    def test_format_summary_for_prompt_with_numeric_metrics(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """format_summary_for_prompt must render avg/trend fields."""
+        store = summarizer.store
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-01", "pnl", 100.0)
+        store.set_context(ContextLayer.L6_DAILY, "2026-02-02", "pnl", 200.0)
+
+        compact = summarizer.create_compact_summary([ContextLayer.L6_DAILY])
+        text = summarizer.format_summary_for_prompt(compact)
+        assert isinstance(text, str)
+
+    def test_format_summary_for_prompt_skips_empty_layers(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """format_summary_for_prompt must skip layers with no metrics."""
+        summary = {ContextLayer.L6_DAILY.value: {}}
+        text = summarizer.format_summary_for_prompt(summary)
+        assert text == ""
+
+    def test_format_summary_non_dict_value(
+        self, summarizer: ContextSummarizer
+    ) -> None:
+        """format_summary_for_prompt must render non-dict values as plain text."""
+        summary = {
+            "daily": {
+                "plain_count": 42,
+            }
+        }
+        text = summarizer.format_summary_for_prompt(summary)
+        assert "plain_count" in text
+        assert "42" in text

tests/test_daily_review.py

@@ -16,6 +16,10 @@ from src.evolution.daily_review import DailyReviewer
 from src.evolution.scorecard import DailyScorecard
 from src.logging.decision_logger import DecisionLogger
 
+from datetime import UTC, datetime
+
+TODAY = datetime.now(UTC).strftime("%Y-%m-%d")
+
 
 @pytest.fixture
 def db_conn() -> sqlite3.Connection:
@@ -116,7 +120,7 @@ def test_generate_scorecard_market_scoped(
         exchange_code="NASDAQ",
     )
 
-    scorecard = reviewer.generate_scorecard("2026-02-14", "KR")
+    scorecard = reviewer.generate_scorecard(TODAY, "KR")
 
     assert scorecard.market == "KR"
     assert scorecard.total_decisions == 2
@@ -158,7 +162,7 @@ def test_generate_scorecard_top_winners_and_losers(
             decision_id=decision_id,
         )
 
-    scorecard = reviewer.generate_scorecard("2026-02-14", "KR")
+    scorecard = reviewer.generate_scorecard(TODAY, "KR")
     assert scorecard.top_winners == ["005930", "000660"]
     assert scorecard.top_losers == ["035420", "051910"]
 
@@ -167,7 +171,7 @@ def test_generate_scorecard_empty_day(
     db_conn: sqlite3.Connection, context_store: ContextStore,
 ) -> None:
     reviewer = DailyReviewer(db_conn, context_store)
-    scorecard = reviewer.generate_scorecard("2026-02-14", "KR")
+    scorecard = reviewer.generate_scorecard(TODAY, "KR")
 
     assert scorecard.total_decisions == 0
     assert scorecard.total_pnl == 0.0

tests/test_dashboard.py

@@ -0,0 +1,451 @@
+"""Tests for dashboard endpoint handlers."""
+
+from __future__ import annotations
+
+import json
+import sqlite3
+from collections.abc import Callable
+from datetime import UTC, datetime
+from pathlib import Path
+from typing import Any
+
+import pytest
+from fastapi import HTTPException
+from fastapi.responses import FileResponse
+
+from src.dashboard.app import create_dashboard_app
+from src.db import init_db
+
+
+def _seed_db(conn: sqlite3.Connection) -> None:
+    today = datetime.now(UTC).date().isoformat()
+
+    conn.execute(
+        """
+        INSERT INTO playbooks (
+            date, market, status, playbook_json, generated_at,
+            token_count, scenario_count, match_count
+        ) VALUES (?, ?, ?, ?, ?, ?, ?, ?)
+        """,
+        (
+            "2026-02-14",
+            "KR",
+            "ready",
+            json.dumps({"market": "KR", "stock_playbooks": []}),
+            "2026-02-14T08:30:00+00:00",
+            123,
+            2,
+            1,
+        ),
+    )
+    conn.execute(
+        """
+        INSERT INTO playbooks (
+            date, market, status, playbook_json, generated_at,
+            token_count, scenario_count, match_count
+        ) VALUES (?, ?, ?, ?, ?, ?, ?, ?)
+        """,
+        (
+            today,
+            "US_NASDAQ",
+            "ready",
+            json.dumps({"market": "US_NASDAQ", "stock_playbooks": []}),
+            f"{today}T08:30:00+00:00",
+            100,
+            1,
+            0,
+        ),
+    )
+    conn.execute(
+        """
+        INSERT INTO contexts (layer, timeframe, key, value, created_at, updated_at)
+        VALUES (?, ?, ?, ?, ?, ?)
+        """,
+        (
+            "L6_DAILY",
+            "2026-02-14",
+            "scorecard_KR",
+            json.dumps({"market": "KR", "total_pnl": 1.5, "win_rate": 60.0}),
+            "2026-02-14T15:30:00+00:00",
+            "2026-02-14T15:30:00+00:00",
+        ),
+    )
+    conn.execute(
+        """
+        INSERT INTO contexts (layer, timeframe, key, value, created_at, updated_at)
+        VALUES (?, ?, ?, ?, ?, ?)
+        """,
+        (
+            "L7_REALTIME",
+            "2026-02-14T10:00:00+00:00",
+            "volatility_KR_005930",
+            json.dumps({"momentum_score": 70.0}),
+            "2026-02-14T10:00:00+00:00",
+            "2026-02-14T10:00:00+00:00",
+        ),
+    )
+    conn.execute(
+        """
+        INSERT INTO decision_logs (
+            decision_id, timestamp, stock_code, market, exchange_code,
+            action, confidence, rationale, context_snapshot, input_data
+        ) VALUES (?, ?, ?, ?, ?, ?, ?, ?, ?, ?)
+        """,
+        (
+            "d-kr-1",
+            f"{today}T09:10:00+00:00",
+            "005930",
+            "KR",
+            "KRX",
+            "BUY",
+            85,
+            "signal matched",
+            json.dumps({"scenario_match": {"rsi": 28.0}}),
+            json.dumps({"current_price": 70000}),
+        ),
+    )
+    conn.execute(
+        """
+        INSERT INTO decision_logs (
+            decision_id, timestamp, stock_code, market, exchange_code,
+            action, confidence, rationale, context_snapshot, input_data
+        ) VALUES (?, ?, ?, ?, ?, ?, ?, ?, ?, ?)
+        """,
+        (
+            "d-us-1",
+            f"{today}T21:10:00+00:00",
+            "AAPL",
+            "US_NASDAQ",
+            "NASDAQ",
+            "SELL",
+            80,
+            "no match",
+            json.dumps({"scenario_match": {}}),
+            json.dumps({"current_price": 200}),
+        ),
+    )
+    conn.execute(
+        """
+        INSERT INTO trades (
+            timestamp, stock_code, action, confidence, rationale,
+            quantity, price, pnl, market, exchange_code, selection_context, decision_id
+        ) VALUES (?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?)
+        """,
+        (
+            f"{today}T09:11:00+00:00",
+            "005930",
+            "BUY",
+            85,
+            "buy",
+            1,
+            70000,
+            2.0,
+            "KR",
+            "KRX",
+            None,
+            "d-kr-1",
+        ),
+    )
+    conn.execute(
+        """
+        INSERT INTO trades (
+            timestamp, stock_code, action, confidence, rationale,
+            quantity, price, pnl, market, exchange_code, selection_context, decision_id
+        ) VALUES (?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?, ?)
+        """,
+        (
+            f"{today}T21:11:00+00:00",
+            "AAPL",
+            "SELL",
+            80,
+            "sell",
+            1,
+            200,
+            -1.0,
+            "US_NASDAQ",
+            "NASDAQ",
+            None,
+            "d-us-1",
+        ),
+    )
+    conn.commit()
+
+
+def _app(tmp_path: Path) -> Any:
+    db_path = tmp_path / "dashboard_test.db"
+    conn = init_db(str(db_path))
+    _seed_db(conn)
+    conn.close()
+    return create_dashboard_app(str(db_path))
+
+
+def _endpoint(app: Any, path: str) -> Callable[..., Any]:
+    for route in app.routes:
+        if getattr(route, "path", None) == path:
+            return route.endpoint
+    raise AssertionError(f"route not found: {path}")
+
+
+def test_index_serves_html(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    index = _endpoint(app, "/")
+    resp = index()
+    assert isinstance(resp, FileResponse)
+    assert "index.html" in str(resp.path)
+
+
+def test_status_endpoint(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    assert "KR" in body["markets"]
+    assert "US_NASDAQ" in body["markets"]
+    assert "totals" in body
+
+
+def test_playbook_found(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_playbook = _endpoint(app, "/api/playbook/{date_str}")
+    body = get_playbook("2026-02-14", market="KR")
+    assert body["market"] == "KR"
+
+
+def test_playbook_not_found(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_playbook = _endpoint(app, "/api/playbook/{date_str}")
+    with pytest.raises(HTTPException, match="playbook not found"):
+        get_playbook("2026-02-15", market="KR")
+
+
+def test_scorecard_found(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_scorecard = _endpoint(app, "/api/scorecard/{date_str}")
+    body = get_scorecard("2026-02-14", market="KR")
+    assert body["scorecard"]["total_pnl"] == 1.5
+
+
+def test_scorecard_not_found(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_scorecard = _endpoint(app, "/api/scorecard/{date_str}")
+    with pytest.raises(HTTPException, match="scorecard not found"):
+        get_scorecard("2026-02-15", market="KR")
+
+
+def test_performance_all(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_performance = _endpoint(app, "/api/performance")
+    body = get_performance(market="all")
+    assert body["market"] == "all"
+    assert body["combined"]["total_trades"] == 2
+    assert len(body["by_market"]) == 2
+
+
+def test_performance_market_filter(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_performance = _endpoint(app, "/api/performance")
+    body = get_performance(market="KR")
+    assert body["market"] == "KR"
+    assert body["metrics"]["total_trades"] == 1
+
+
+def test_performance_empty_market(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_performance = _endpoint(app, "/api/performance")
+    body = get_performance(market="JP")
+    assert body["metrics"]["total_trades"] == 0
+
+
+def test_context_layer_all(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_context_layer = _endpoint(app, "/api/context/{layer}")
+    body = get_context_layer("L7_REALTIME", timeframe=None, limit=100)
+    assert body["layer"] == "L7_REALTIME"
+    assert body["count"] == 1
+
+
+def test_context_layer_timeframe_filter(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_context_layer = _endpoint(app, "/api/context/{layer}")
+    body = get_context_layer("L6_DAILY", timeframe="2026-02-14", limit=100)
+    assert body["count"] == 1
+    assert body["entries"][0]["key"] == "scorecard_KR"
+
+
+def test_decisions_endpoint(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_decisions = _endpoint(app, "/api/decisions")
+    body = get_decisions(market="KR", limit=50)
+    assert body["count"] == 1
+    assert body["decisions"][0]["decision_id"] == "d-kr-1"
+
+
+def test_scenarios_active_filters_non_matched(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_active_scenarios = _endpoint(app, "/api/scenarios/active")
+    body = get_active_scenarios(
+        market="KR",
+        date_str=datetime.now(UTC).date().isoformat(),
+        limit=50,
+    )
+    assert body["count"] == 1
+    assert body["matches"][0]["stock_code"] == "005930"
+
+
+def test_scenarios_active_empty_when_no_matches(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_active_scenarios = _endpoint(app, "/api/scenarios/active")
+    body = get_active_scenarios(market="US", date_str="2026-02-14", limit=50)
+    assert body["count"] == 0
+
+
+def test_pnl_history_all_markets(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_pnl_history = _endpoint(app, "/api/pnl/history")
+    body = get_pnl_history(days=30, market="all")
+    assert body["market"] == "all"
+    assert isinstance(body["labels"], list)
+    assert isinstance(body["pnl"], list)
+    assert len(body["labels"]) == len(body["pnl"])
+
+
+def test_pnl_history_market_filter(tmp_path: Path) -> None:
+    app = _app(tmp_path)
+    get_pnl_history = _endpoint(app, "/api/pnl/history")
+    body = get_pnl_history(days=30, market="KR")
+    assert body["market"] == "KR"
+    # KR has 1 trade with pnl=2.0
+    assert len(body["labels"]) >= 1
+    assert body["pnl"][0] == 2.0
+
+
+def test_positions_returns_open_buy(tmp_path: Path) -> None:
+    """BUY가 마지막 거래인 종목은 포지션으로 반환되어야 한다."""
+    app = _app(tmp_path)
+    get_positions = _endpoint(app, "/api/positions")
+    body = get_positions()
+    # seed_db: 005930은 BUY (오픈), AAPL은 SELL (마지막)
+    assert body["count"] == 1
+    pos = body["positions"][0]
+    assert pos["stock_code"] == "005930"
+    assert pos["market"] == "KR"
+    assert pos["quantity"] == 1
+    assert pos["entry_price"] == 70000
+
+
+def test_positions_excludes_closed_sell(tmp_path: Path) -> None:
+    """마지막 거래가 SELL인 종목은 포지션에 나타나지 않아야 한다."""
+    app = _app(tmp_path)
+    get_positions = _endpoint(app, "/api/positions")
+    body = get_positions()
+    codes = [p["stock_code"] for p in body["positions"]]
+    assert "AAPL" not in codes
+
+
+def test_positions_empty_when_no_trades(tmp_path: Path) -> None:
+    """거래 내역이 없으면 빈 포지션 목록을 반환해야 한다."""
+    db_path = tmp_path / "empty.db"
+    conn = init_db(str(db_path))
+    conn.close()
+    app = create_dashboard_app(str(db_path))
+    get_positions = _endpoint(app, "/api/positions")
+    body = get_positions()
+    assert body["count"] == 0
+    assert body["positions"] == []
+
+
+def _seed_cb_context(conn: sqlite3.Connection, pnl_pct: float, market: str = "KR") -> None:
+    import json as _json
+    conn.execute(
+        "INSERT OR REPLACE INTO system_metrics (key, value, updated_at) VALUES (?, ?, ?)",
+        (
+            f"portfolio_pnl_pct_{market}",
+            _json.dumps({"pnl_pct": pnl_pct}),
+            "2026-02-22T10:00:00+00:00",
+        ),
+    )
+    conn.commit()
+
+
+def test_status_circuit_breaker_ok(tmp_path: Path) -> None:
+    """pnl_pct가 -2.0%보다 높으면 status=ok를 반환해야 한다."""
+    db_path = tmp_path / "cb_ok.db"
+    conn = init_db(str(db_path))
+    _seed_cb_context(conn, -1.0)
+    conn.close()
+    app = create_dashboard_app(str(db_path))
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    cb = body["circuit_breaker"]
+    assert cb["status"] == "ok"
+    assert cb["current_pnl_pct"] == -1.0
+    assert cb["threshold_pct"] == -3.0
+
+
+def test_status_circuit_breaker_warning(tmp_path: Path) -> None:
+    """pnl_pct가 -2.0% 이하이면 status=warning을 반환해야 한다."""
+    db_path = tmp_path / "cb_warn.db"
+    conn = init_db(str(db_path))
+    _seed_cb_context(conn, -2.5)
+    conn.close()
+    app = create_dashboard_app(str(db_path))
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    assert body["circuit_breaker"]["status"] == "warning"
+
+
+def test_status_circuit_breaker_tripped(tmp_path: Path) -> None:
+    """pnl_pct가 임계값(-3.0%) 이하이면 status=tripped를 반환해야 한다."""
+    db_path = tmp_path / "cb_tripped.db"
+    conn = init_db(str(db_path))
+    _seed_cb_context(conn, -3.5)
+    conn.close()
+    app = create_dashboard_app(str(db_path))
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    assert body["circuit_breaker"]["status"] == "tripped"
+
+
+def test_status_circuit_breaker_unknown_when_no_data(tmp_path: Path) -> None:
+    """L7 context에 pnl_pct 데이터가 없으면 status=unknown을 반환해야 한다."""
+    app = _app(tmp_path)  # seed_db에는 portfolio_pnl_pct 없음
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    cb = body["circuit_breaker"]
+    assert cb["status"] == "unknown"
+    assert cb["current_pnl_pct"] is None
+
+
+def test_status_mode_paper(tmp_path: Path) -> None:
+    """mode=paper로 생성하면 status 응답에 mode=paper가 포함돼야 한다."""
+    db_path = tmp_path / "dashboard_test.db"
+    conn = init_db(str(db_path))
+    _seed_db(conn)
+    conn.close()
+    app = create_dashboard_app(str(db_path), mode="paper")
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    assert body["mode"] == "paper"
+
+
+def test_status_mode_live(tmp_path: Path) -> None:
+    """mode=live로 생성하면 status 응답에 mode=live가 포함돼야 한다."""
+    db_path = tmp_path / "dashboard_test.db"
+    conn = init_db(str(db_path))
+    _seed_db(conn)
+    conn.close()
+    app = create_dashboard_app(str(db_path), mode="live")
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    assert body["mode"] == "live"
+
+
+def test_status_mode_default_paper(tmp_path: Path) -> None:
+    """mode 파라미터 미전달 시 기본값은 paper여야 한다."""
+    db_path = tmp_path / "dashboard_test.db"
+    conn = init_db(str(db_path))
+    _seed_db(conn)
+    conn.close()
+    app = create_dashboard_app(str(db_path))
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    assert body["mode"] == "paper"

tests/test_db.py

@@ -0,0 +1,331 @@
+"""Tests for database helper functions."""
+
+import tempfile
+import os
+
+from src.db import get_open_position, init_db, log_trade
+
+
+def test_get_open_position_returns_latest_buy() -> None:
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="005930",
+        action="BUY",
+        confidence=90,
+        rationale="entry",
+        quantity=2,
+        price=70000.0,
+        market="KR",
+        exchange_code="KRX",
+        decision_id="d-buy-1",
+    )
+
+    position = get_open_position(conn, "005930", "KR")
+    assert position is not None
+    assert position["decision_id"] == "d-buy-1"
+    assert position["price"] == 70000.0
+    assert position["quantity"] == 2
+
+
+def test_get_open_position_returns_none_when_latest_is_sell() -> None:
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="005930",
+        action="BUY",
+        confidence=90,
+        rationale="entry",
+        quantity=1,
+        price=70000.0,
+        market="KR",
+        exchange_code="KRX",
+        decision_id="d-buy-1",
+    )
+    log_trade(
+        conn=conn,
+        stock_code="005930",
+        action="SELL",
+        confidence=95,
+        rationale="exit",
+        quantity=1,
+        price=71000.0,
+        market="KR",
+        exchange_code="KRX",
+        decision_id="d-sell-1",
+    )
+
+    assert get_open_position(conn, "005930", "KR") is None
+
+
+def test_get_open_position_returns_none_when_no_trades() -> None:
+    conn = init_db(":memory:")
+    assert get_open_position(conn, "AAPL", "US_NASDAQ") is None
+
+
+# ---------------------------------------------------------------------------
+# WAL mode tests (issue #210)
+# ---------------------------------------------------------------------------
+
+
+def test_wal_mode_applied_to_file_db() -> None:
+    """File-based DB must use WAL journal mode for dashboard concurrent reads."""
+    with tempfile.NamedTemporaryFile(suffix=".db", delete=False) as f:
+        db_path = f.name
+    try:
+        conn = init_db(db_path)
+        cursor = conn.execute("PRAGMA journal_mode")
+        mode = cursor.fetchone()[0]
+        assert mode == "wal", f"Expected WAL mode, got {mode}"
+        conn.close()
+    finally:
+        os.unlink(db_path)
+        # Clean up WAL auxiliary files if they exist
+        for ext in ("-wal", "-shm"):
+            path = db_path + ext
+            if os.path.exists(path):
+                os.unlink(path)
+
+
+def test_wal_mode_not_applied_to_memory_db() -> None:
+    """:memory: DB must not apply WAL (SQLite does not support WAL for in-memory)."""
+    conn = init_db(":memory:")
+    cursor = conn.execute("PRAGMA journal_mode")
+    mode = cursor.fetchone()[0]
+    # In-memory DBs default to 'memory' journal mode
+    assert mode != "wal", "WAL should not be set on in-memory database"
+    conn.close()
+
+
+# ---------------------------------------------------------------------------
+# mode column tests (issue #212)
+# ---------------------------------------------------------------------------
+
+
+def test_log_trade_stores_mode_paper() -> None:
+    """log_trade must persist mode='paper' in the trades table."""
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="005930",
+        action="BUY",
+        confidence=85,
+        rationale="test",
+        mode="paper",
+    )
+    row = conn.execute("SELECT mode FROM trades ORDER BY id DESC LIMIT 1").fetchone()
+    assert row is not None
+    assert row[0] == "paper"
+
+
+def test_log_trade_stores_mode_live() -> None:
+    """log_trade must persist mode='live' in the trades table."""
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="005930",
+        action="BUY",
+        confidence=85,
+        rationale="test",
+        mode="live",
+    )
+    row = conn.execute("SELECT mode FROM trades ORDER BY id DESC LIMIT 1").fetchone()
+    assert row is not None
+    assert row[0] == "live"
+
+
+def test_log_trade_default_mode_is_paper() -> None:
+    """log_trade without explicit mode must default to 'paper'."""
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="005930",
+        action="HOLD",
+        confidence=50,
+        rationale="test",
+    )
+    row = conn.execute("SELECT mode FROM trades ORDER BY id DESC LIMIT 1").fetchone()
+    assert row is not None
+    assert row[0] == "paper"
+
+
+def test_mode_column_exists_in_schema() -> None:
+    """trades table must have a mode column after init_db."""
+    conn = init_db(":memory:")
+    cursor = conn.execute("PRAGMA table_info(trades)")
+    columns = {row[1] for row in cursor.fetchall()}
+    assert "mode" in columns
+    assert "session_id" in columns
+    assert "strategy_pnl" in columns
+    assert "fx_pnl" in columns
+
+
+def test_mode_migration_adds_column_to_existing_db() -> None:
+    """init_db must add mode column to existing DBs that lack it (migration)."""
+    import sqlite3
+
+    with tempfile.NamedTemporaryFile(suffix=".db", delete=False) as f:
+        db_path = f.name
+    try:
+        # Create DB without mode column (simulate old schema)
+        old_conn = sqlite3.connect(db_path)
+        old_conn.execute(
+            """CREATE TABLE trades (
+                id INTEGER PRIMARY KEY AUTOINCREMENT,
+                timestamp TEXT NOT NULL,
+                stock_code TEXT NOT NULL,
+                action TEXT NOT NULL,
+                confidence INTEGER NOT NULL,
+                rationale TEXT,
+                quantity INTEGER,
+                price REAL,
+                pnl REAL DEFAULT 0.0,
+                market TEXT DEFAULT 'KR',
+                exchange_code TEXT DEFAULT 'KRX',
+                decision_id TEXT
+            )"""
+        )
+        old_conn.execute(
+            """
+            INSERT INTO trades (
+                timestamp, stock_code, action, confidence, rationale, quantity, price, pnl
+            ) VALUES ('2026-01-01T00:00:00+00:00', 'AAPL', 'SELL', 90, 'legacy', 1, 100.0, 123.45)
+            """
+        )
+        old_conn.commit()
+        old_conn.close()
+
+        # Run init_db — should add mode column via migration
+        conn = init_db(db_path)
+        cursor = conn.execute("PRAGMA table_info(trades)")
+        columns = {row[1] for row in cursor.fetchall()}
+        assert "mode" in columns
+        assert "session_id" in columns
+        assert "strategy_pnl" in columns
+        assert "fx_pnl" in columns
+        migrated = conn.execute(
+            "SELECT pnl, strategy_pnl, fx_pnl, session_id FROM trades WHERE stock_code='AAPL' LIMIT 1"
+        ).fetchone()
+        assert migrated is not None
+        assert migrated[0] == 123.45
+        assert migrated[1] == 123.45
+        assert migrated[2] == 0.0
+        assert migrated[3] == "UNKNOWN"
+        conn.close()
+    finally:
+        os.unlink(db_path)
+
+
+def test_log_trade_stores_strategy_and_fx_pnl_separately() -> None:
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="AAPL",
+        action="SELL",
+        confidence=90,
+        rationale="fx split",
+        pnl=120.0,
+        strategy_pnl=100.0,
+        fx_pnl=20.0,
+        market="US_NASDAQ",
+        exchange_code="NASD",
+    )
+    row = conn.execute(
+        "SELECT pnl, strategy_pnl, fx_pnl FROM trades ORDER BY id DESC LIMIT 1"
+    ).fetchone()
+    assert row is not None
+    assert row[0] == 120.0
+    assert row[1] == 100.0
+    assert row[2] == 20.0
+
+
+def test_log_trade_backward_compat_sets_strategy_pnl_from_pnl() -> None:
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="005930",
+        action="SELL",
+        confidence=80,
+        rationale="legacy",
+        pnl=50.0,
+        market="KR",
+        exchange_code="KRX",
+    )
+    row = conn.execute(
+        "SELECT pnl, strategy_pnl, fx_pnl FROM trades ORDER BY id DESC LIMIT 1"
+    ).fetchone()
+    assert row is not None
+    assert row[0] == 50.0
+    assert row[1] == 50.0
+    assert row[2] == 0.0
+
+
+def test_log_trade_partial_fx_input_does_not_infer_negative_strategy_pnl() -> None:
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="AAPL",
+        action="SELL",
+        confidence=70,
+        rationale="fx only",
+        pnl=0.0,
+        fx_pnl=10.0,
+        market="US_NASDAQ",
+        exchange_code="NASD",
+    )
+    row = conn.execute(
+        "SELECT pnl, strategy_pnl, fx_pnl FROM trades ORDER BY id DESC LIMIT 1"
+    ).fetchone()
+    assert row is not None
+    assert row[0] == 10.0
+    assert row[1] == 0.0
+    assert row[2] == 10.0
+
+
+def test_log_trade_persists_explicit_session_id() -> None:
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="AAPL",
+        action="BUY",
+        confidence=70,
+        rationale="session test",
+        market="US_NASDAQ",
+        exchange_code="NASD",
+        session_id="US_PRE",
+    )
+    row = conn.execute("SELECT session_id FROM trades ORDER BY id DESC LIMIT 1").fetchone()
+    assert row is not None
+    assert row[0] == "US_PRE"
+
+
+def test_log_trade_auto_derives_session_id_when_not_provided() -> None:
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="005930",
+        action="BUY",
+        confidence=70,
+        rationale="auto session",
+        market="KR",
+        exchange_code="KRX",
+    )
+    row = conn.execute("SELECT session_id FROM trades ORDER BY id DESC LIMIT 1").fetchone()
+    assert row is not None
+    assert row[0] != "UNKNOWN"
+
+
+def test_log_trade_unknown_market_falls_back_to_unknown_session() -> None:
+    conn = init_db(":memory:")
+    log_trade(
+        conn=conn,
+        stock_code="X",
+        action="BUY",
+        confidence=70,
+        rationale="unknown market",
+        market="MARS",
+        exchange_code="MARS",
+    )
+    row = conn.execute("SELECT session_id FROM trades ORDER BY id DESC LIMIT 1").fetchone()
+    assert row is not None
+    assert row[0] == "UNKNOWN"

tests/test_kill_switch.py

@@ -0,0 +1,55 @@
+import pytest
+
+from src.core.kill_switch import KillSwitchOrchestrator
+
+
+@pytest.mark.asyncio
+async def test_kill_switch_executes_steps_in_order() -> None:
+    ks = KillSwitchOrchestrator()
+    calls: list[str] = []
+
+    async def _cancel() -> None:
+        calls.append("cancel")
+
+    def _refresh() -> None:
+        calls.append("refresh")
+
+    def _reduce() -> None:
+        calls.append("reduce")
+
+    def _snapshot() -> None:
+        calls.append("snapshot")
+
+    def _notify() -> None:
+        calls.append("notify")
+
+    report = await ks.trigger(
+        reason="test",
+        cancel_pending_orders=_cancel,
+        refresh_order_state=_refresh,
+        reduce_risk=_reduce,
+        snapshot_state=_snapshot,
+        notify=_notify,
+    )
+
+    assert report.steps == [
+        "block_new_orders",
+        "cancel_pending_orders",
+        "refresh_order_state",
+        "reduce_risk",
+        "snapshot_state",
+        "notify",
+    ]
+    assert calls == ["cancel", "refresh", "reduce", "snapshot", "notify"]
+    assert report.errors == []
+
+
+@pytest.mark.asyncio
+async def test_kill_switch_collects_step_errors() -> None:
+    ks = KillSwitchOrchestrator()
+
+    def _boom() -> None:
+        raise RuntimeError("boom")
+
+    report = await ks.trigger(reason="test", cancel_pending_orders=_boom)
+    assert any(err.startswith("cancel_pending_orders:") for err in report.errors)

tests/test_logging_config.py

@@ -0,0 +1,117 @@
+"""Tests for JSON structured logging configuration."""
+
+from __future__ import annotations
+
+import json
+import logging
+import sys
+
+from src.logging_config import JSONFormatter, setup_logging
+
+
+class TestJSONFormatter:
+    """Test JSONFormatter output."""
+
+    def test_basic_log_record(self) -> None:
+        """JSONFormatter must emit valid JSON with required fields."""
+        formatter = JSONFormatter()
+        record = logging.LogRecord(
+            name="test.logger",
+            level=logging.INFO,
+            pathname="",
+            lineno=0,
+            msg="Hello %s",
+            args=("world",),
+            exc_info=None,
+        )
+        output = formatter.format(record)
+        data = json.loads(output)
+        assert data["level"] == "INFO"
+        assert data["logger"] == "test.logger"
+        assert data["message"] == "Hello world"
+        assert "timestamp" in data
+
+    def test_includes_exception_info(self) -> None:
+        """JSONFormatter must include exception info when present."""
+        formatter = JSONFormatter()
+        try:
+            raise ValueError("test error")
+        except ValueError:
+            exc_info = sys.exc_info()
+        record = logging.LogRecord(
+            name="test",
+            level=logging.ERROR,
+            pathname="",
+            lineno=0,
+            msg="oops",
+            args=(),
+            exc_info=exc_info,
+        )
+        output = formatter.format(record)
+        data = json.loads(output)
+        assert "exception" in data
+        assert "ValueError" in data["exception"]
+
+    def test_extra_trading_fields_included(self) -> None:
+        """Extra trading fields attached to the record must appear in JSON."""
+        formatter = JSONFormatter()
+        record = logging.LogRecord(
+            name="test",
+            level=logging.INFO,
+            pathname="",
+            lineno=0,
+            msg="trade",
+            args=(),
+            exc_info=None,
+        )
+        record.stock_code = "005930"  # type: ignore[attr-defined]
+        record.action = "BUY"  # type: ignore[attr-defined]
+        record.confidence = 85  # type: ignore[attr-defined]
+        record.pnl_pct = -1.5  # type: ignore[attr-defined]
+        record.order_amount = 1_000_000  # type: ignore[attr-defined]
+        output = formatter.format(record)
+        data = json.loads(output)
+        assert data["stock_code"] == "005930"
+        assert data["action"] == "BUY"
+        assert data["confidence"] == 85
+        assert data["pnl_pct"] == -1.5
+        assert data["order_amount"] == 1_000_000
+
+    def test_none_extra_fields_excluded(self) -> None:
+        """Extra fields that are None must not appear in JSON output."""
+        formatter = JSONFormatter()
+        record = logging.LogRecord(
+            name="test",
+            level=logging.INFO,
+            pathname="",
+            lineno=0,
+            msg="no extras",
+            args=(),
+            exc_info=None,
+        )
+        output = formatter.format(record)
+        data = json.loads(output)
+        assert "stock_code" not in data
+        assert "action" not in data
+        assert "confidence" not in data
+
+
+class TestSetupLogging:
+    """Test setup_logging function."""
+
+    def test_configures_root_logger(self) -> None:
+        """setup_logging must attach a JSON handler to the root logger."""
+        setup_logging(level=logging.DEBUG)
+        root = logging.getLogger()
+        json_handlers = [
+            h for h in root.handlers if isinstance(h.formatter, JSONFormatter)
+        ]
+        assert len(json_handlers) == 1
+        assert root.level == logging.DEBUG
+
+    def test_avoids_duplicate_handlers(self) -> None:
+        """Calling setup_logging twice must not add duplicate handlers."""
+        setup_logging()
+        setup_logging()
+        root = logging.getLogger()
+        assert len(root.handlers) == 1

tests/test_market_schedule.py

@@ -7,6 +7,7 @@ import pytest
 
 from src.markets.schedule import (
     MARKETS,
+    expand_market_codes,
     get_next_market_open,
     get_open_markets,
     is_market_open,
@@ -199,3 +200,28 @@ class TestGetNextMarketOpen:
             enabled_markets=["INVALID", "KR"], now=test_time
         )
         assert market.code == "KR"
+
+
+class TestExpandMarketCodes:
+    """Test shorthand market expansion."""
+
+    def test_expand_us_shorthand(self) -> None:
+        assert expand_market_codes(["US"]) == ["US_NASDAQ", "US_NYSE", "US_AMEX"]
+
+    def test_expand_cn_shorthand(self) -> None:
+        assert expand_market_codes(["CN"]) == ["CN_SHA", "CN_SZA"]
+
+    def test_expand_vn_shorthand(self) -> None:
+        assert expand_market_codes(["VN"]) == ["VN_HAN", "VN_HCM"]
+
+    def test_expand_mixed_codes(self) -> None:
+        assert expand_market_codes(["KR", "US", "JP"]) == [
+            "KR",
+            "US_NASDAQ",
+            "US_NYSE",
+            "US_AMEX",
+            "JP",
+        ]
+
+    def test_expand_preserves_unknown_code(self) -> None:
+        assert expand_market_codes(["KR", "UNKNOWN"]) == ["KR", "UNKNOWN"]

tests/test_order_policy.py

@@ -0,0 +1,40 @@
+from datetime import UTC, datetime
+
+import pytest
+
+from src.core.order_policy import OrderPolicyRejected, classify_session_id, validate_order_policy
+from src.markets.schedule import MARKETS
+
+
+def test_classify_kr_nxt_after() -> None:
+    # 2026-02-26 16:00 KST == 07:00 UTC
+    now = datetime(2026, 2, 26, 7, 0, tzinfo=UTC)
+    assert classify_session_id(MARKETS["KR"], now) == "NXT_AFTER"
+
+
+def test_classify_us_pre() -> None:
+    # 2026-02-26 19:00 KST == 10:00 UTC
+    now = datetime(2026, 2, 26, 10, 0, tzinfo=UTC)
+    assert classify_session_id(MARKETS["US_NASDAQ"], now) == "US_PRE"
+
+
+def test_reject_market_order_in_low_liquidity_session() -> None:
+    now = datetime(2026, 2, 26, 10, 0, tzinfo=UTC)  # 19:00 KST -> US_PRE
+    with pytest.raises(OrderPolicyRejected):
+        validate_order_policy(
+            market=MARKETS["US_NASDAQ"],
+            order_type="BUY",
+            price=0.0,
+            now=now,
+        )
+
+
+def test_allow_limit_order_in_low_liquidity_session() -> None:
+    now = datetime(2026, 2, 26, 10, 0, tzinfo=UTC)  # 19:00 KST -> US_PRE
+    info = validate_order_policy(
+        market=MARKETS["US_NASDAQ"],
+        order_type="BUY",
+        price=100.0,
+        now=now,
+    )
+    assert info.session_id == "US_PRE"

tests/test_pre_market_planner.py

@@ -164,18 +164,23 @@ class TestGeneratePlaybook:
         assert pb.market_outlook == MarketOutlook.NEUTRAL
 
     @pytest.mark.asyncio
-    async def test_gemini_failure_returns_defensive(self) -> None:
+    async def test_gemini_failure_returns_smart_fallback(self) -> None:
         planner = _make_planner()
         planner._gemini.decide = AsyncMock(side_effect=RuntimeError("API timeout"))
+        # oversold candidate (signal="oversold", rsi=28.5)
         candidates = [_candidate()]
 
         pb = await planner.generate_playbook("KR", candidates, today=date(2026, 2, 8))
 
         assert pb.default_action == ScenarioAction.HOLD
-        assert pb.market_outlook == MarketOutlook.NEUTRAL_TO_BEARISH
+        # Smart fallback uses NEUTRAL outlook (not NEUTRAL_TO_BEARISH)
+        assert pb.market_outlook == MarketOutlook.NEUTRAL
         assert pb.stock_count == 1
-        # Defensive playbook has stop-loss scenarios
-        assert pb.stock_playbooks[0].scenarios[0].action == ScenarioAction.SELL
+        # Oversold candidate → first scenario is BUY, second is SELL stop-loss
+        scenarios = pb.stock_playbooks[0].scenarios
+        assert scenarios[0].action == ScenarioAction.BUY
+        assert scenarios[0].condition.rsi_below == 30
+        assert scenarios[1].action == ScenarioAction.SELL
 
     @pytest.mark.asyncio
     async def test_gemini_failure_empty_when_defensive_disabled(self) -> None:
@@ -657,3 +662,339 @@ class TestDefensivePlaybook:
         assert pb.stock_count == 0
         assert pb.market == "US"
         assert pb.market_outlook == MarketOutlook.NEUTRAL
+
+
+# ---------------------------------------------------------------------------
+# Smart fallback playbook
+# ---------------------------------------------------------------------------
+
+
+class TestSmartFallbackPlaybook:
+    """Tests for _smart_fallback_playbook — rule-based BUY/SELL on Gemini failure."""
+
+    def _make_settings(self) -> Settings:
+        return Settings(
+            KIS_APP_KEY="test",
+            KIS_APP_SECRET="test",
+            KIS_ACCOUNT_NO="12345678-01",
+            GEMINI_API_KEY="test",
+            RSI_OVERSOLD_THRESHOLD=30,
+            VOL_MULTIPLIER=2.0,
+        )
+
+    def test_momentum_candidate_gets_buy_on_volume(self) -> None:
+        candidates = [
+            _candidate(code="CHOW", signal="momentum", volume_ratio=13.64, rsi=100.0)
+        ]
+        settings = self._make_settings()
+
+        pb = PreMarketPlanner._smart_fallback_playbook(
+            date(2026, 2, 17), "US_AMEX", candidates, settings
+        )
+
+        assert pb.stock_count == 1
+        sp = pb.stock_playbooks[0]
+        assert sp.stock_code == "CHOW"
+        # First scenario: BUY with volume_ratio_above
+        buy_sc = sp.scenarios[0]
+        assert buy_sc.action == ScenarioAction.BUY
+        assert buy_sc.condition.volume_ratio_above == 2.0
+        assert buy_sc.condition.rsi_below is None
+        assert buy_sc.confidence == 80
+        # Second scenario: stop-loss SELL
+        sell_sc = sp.scenarios[1]
+        assert sell_sc.action == ScenarioAction.SELL
+        assert sell_sc.condition.price_change_pct_below == -3.0
+
+    def test_oversold_candidate_gets_buy_on_rsi(self) -> None:
+        candidates = [
+            _candidate(code="005930", signal="oversold", rsi=22.0, volume_ratio=3.5)
+        ]
+        settings = self._make_settings()
+
+        pb = PreMarketPlanner._smart_fallback_playbook(
+            date(2026, 2, 17), "KR", candidates, settings
+        )
+
+        sp = pb.stock_playbooks[0]
+        buy_sc = sp.scenarios[0]
+        assert buy_sc.action == ScenarioAction.BUY
+        assert buy_sc.condition.rsi_below == 30
+        assert buy_sc.condition.volume_ratio_above is None
+
+    def test_all_candidates_have_stop_loss_sell(self) -> None:
+        candidates = [
+            _candidate(code="AAA", signal="momentum", volume_ratio=5.0),
+            _candidate(code="BBB", signal="oversold", rsi=25.0),
+        ]
+        settings = self._make_settings()
+
+        pb = PreMarketPlanner._smart_fallback_playbook(
+            date(2026, 2, 17), "US_NASDAQ", candidates, settings
+        )
+
+        assert pb.stock_count == 2
+        for sp in pb.stock_playbooks:
+            sell_scenarios = [s for s in sp.scenarios if s.action == ScenarioAction.SELL]
+            assert len(sell_scenarios) == 1
+            assert sell_scenarios[0].condition.price_change_pct_below == -3.0
+            assert sell_scenarios[0].condition.price_change_pct_below == -3.0
+
+    def test_market_outlook_is_neutral(self) -> None:
+        candidates = [_candidate(signal="momentum", volume_ratio=5.0)]
+        settings = self._make_settings()
+
+        pb = PreMarketPlanner._smart_fallback_playbook(
+            date(2026, 2, 17), "US_AMEX", candidates, settings
+        )
+
+        assert pb.market_outlook == MarketOutlook.NEUTRAL
+
+    def test_default_action_is_hold(self) -> None:
+        candidates = [_candidate(signal="momentum", volume_ratio=5.0)]
+        settings = self._make_settings()
+
+        pb = PreMarketPlanner._smart_fallback_playbook(
+            date(2026, 2, 17), "US_AMEX", candidates, settings
+        )
+
+        assert pb.default_action == ScenarioAction.HOLD
+
+    def test_has_global_reduce_all_rule(self) -> None:
+        candidates = [_candidate(signal="momentum", volume_ratio=5.0)]
+        settings = self._make_settings()
+
+        pb = PreMarketPlanner._smart_fallback_playbook(
+            date(2026, 2, 17), "US_AMEX", candidates, settings
+        )
+
+        assert len(pb.global_rules) == 1
+        rule = pb.global_rules[0]
+        assert rule.action == ScenarioAction.REDUCE_ALL
+        assert "portfolio_pnl_pct" in rule.condition
+
+    def test_empty_candidates_returns_empty_playbook(self) -> None:
+        settings = self._make_settings()
+
+        pb = PreMarketPlanner._smart_fallback_playbook(
+            date(2026, 2, 17), "US_AMEX", [], settings
+        )
+
+        assert pb.stock_count == 0
+
+    def test_vol_multiplier_applied_from_settings(self) -> None:
+        """VOL_MULTIPLIER=3.0 should set volume_ratio_above=3.0 for momentum."""
+        candidates = [_candidate(signal="momentum", volume_ratio=5.0)]
+        settings = self._make_settings()
+        settings = settings.model_copy(update={"VOL_MULTIPLIER": 3.0})
+
+        pb = PreMarketPlanner._smart_fallback_playbook(
+            date(2026, 2, 17), "US_AMEX", candidates, settings
+        )
+
+        buy_sc = pb.stock_playbooks[0].scenarios[0]
+        assert buy_sc.condition.volume_ratio_above == 3.0
+
+    def test_rsi_oversold_threshold_applied_from_settings(self) -> None:
+        """RSI_OVERSOLD_THRESHOLD=25 should set rsi_below=25 for oversold."""
+        candidates = [_candidate(signal="oversold", rsi=22.0)]
+        settings = self._make_settings()
+        settings = settings.model_copy(update={"RSI_OVERSOLD_THRESHOLD": 25})
+
+        pb = PreMarketPlanner._smart_fallback_playbook(
+            date(2026, 2, 17), "KR", candidates, settings
+        )
+
+        buy_sc = pb.stock_playbooks[0].scenarios[0]
+        assert buy_sc.condition.rsi_below == 25
+
+    @pytest.mark.asyncio
+    async def test_generate_playbook_uses_smart_fallback_on_gemini_error(self) -> None:
+        """generate_playbook() should use smart fallback (not defensive) on API failure."""
+        planner = _make_planner()
+        planner._gemini.decide = AsyncMock(side_effect=ConnectionError("429 quota exceeded"))
+        # momentum candidate
+        candidates = [
+            _candidate(code="CHOW", signal="momentum", volume_ratio=13.64, rsi=100.0)
+        ]
+
+        pb = await planner.generate_playbook(
+            "US_AMEX", candidates, today=date(2026, 2, 18)
+        )
+
+        # Should NOT be all-SELL defensive; should have BUY for momentum
+        assert pb.stock_count == 1
+        buy_scenarios = [
+            s for s in pb.stock_playbooks[0].scenarios
+            if s.action == ScenarioAction.BUY
+        ]
+        assert len(buy_scenarios) == 1
+        assert buy_scenarios[0].condition.volume_ratio_above == 2.0  # VOL_MULTIPLIER default
+
+
+# ---------------------------------------------------------------------------
+# Holdings in prompt (#170)
+# ---------------------------------------------------------------------------
+
+
+class TestHoldingsInPrompt:
+    """Tests for current_holdings parameter in generate_playbook / _build_prompt."""
+
+    def _make_holdings(self) -> list[dict]:
+        return [
+            {
+                "stock_code": "005930",
+                "name": "Samsung",
+                "qty": 10,
+                "entry_price": 71000.0,
+                "unrealized_pnl_pct": 2.3,
+                "holding_days": 3,
+            }
+        ]
+
+    def test_build_prompt_includes_holdings_section(self) -> None:
+        """Prompt should contain a Current Holdings section when holdings are given."""
+        planner = _make_planner()
+        candidates = [_candidate()]
+        holdings = self._make_holdings()
+
+        prompt = planner._build_prompt(
+            "KR",
+            candidates,
+            context_data={},
+            self_market_scorecard=None,
+            cross_market=None,
+            current_holdings=holdings,
+        )
+
+        assert "## Current Holdings" in prompt
+        assert "005930" in prompt
+        assert "+2.30%" in prompt
+        assert "보유 3일" in prompt
+
+    def test_build_prompt_no_holdings_omits_section(self) -> None:
+        """Prompt should NOT contain a Current Holdings section when holdings=None."""
+        planner = _make_planner()
+        candidates = [_candidate()]
+
+        prompt = planner._build_prompt(
+            "KR",
+            candidates,
+            context_data={},
+            self_market_scorecard=None,
+            cross_market=None,
+            current_holdings=None,
+        )
+
+        assert "## Current Holdings" not in prompt
+
+    def test_build_prompt_empty_holdings_omits_section(self) -> None:
+        """Empty list should also omit the holdings section."""
+        planner = _make_planner()
+        candidates = [_candidate()]
+
+        prompt = planner._build_prompt(
+            "KR",
+            candidates,
+            context_data={},
+            self_market_scorecard=None,
+            cross_market=None,
+            current_holdings=[],
+        )
+
+        assert "## Current Holdings" not in prompt
+
+    def test_build_prompt_holdings_instruction_included(self) -> None:
+        """Prompt should include instruction to generate scenarios for held stocks."""
+        planner = _make_planner()
+        candidates = [_candidate()]
+        holdings = self._make_holdings()
+
+        prompt = planner._build_prompt(
+            "KR",
+            candidates,
+            context_data={},
+            self_market_scorecard=None,
+            cross_market=None,
+            current_holdings=holdings,
+        )
+
+        assert "005930" in prompt
+        assert "SELL/HOLD" in prompt
+
+    @pytest.mark.asyncio
+    async def test_generate_playbook_passes_holdings_to_prompt(self) -> None:
+        """generate_playbook should pass current_holdings through to the prompt."""
+        planner = _make_planner()
+        candidates = [_candidate()]
+        holdings = self._make_holdings()
+
+        # Capture the actual prompt sent to Gemini
+        captured_prompts: list[str] = []
+        original_decide = planner._gemini.decide
+
+        async def capture_and_call(data: dict) -> TradeDecision:
+            captured_prompts.append(data.get("prompt_override", ""))
+            return await original_decide(data)
+
+        planner._gemini.decide = capture_and_call  # type: ignore[method-assign]
+
+        await planner.generate_playbook(
+            "KR", candidates, today=date(2026, 2, 8), current_holdings=holdings
+        )
+
+        assert len(captured_prompts) == 1
+        assert "## Current Holdings" in captured_prompts[0]
+        assert "005930" in captured_prompts[0]
+
+    @pytest.mark.asyncio
+    async def test_holdings_stock_allowed_in_parse_response(self) -> None:
+        """Holdings stocks not in candidates list should be accepted in the response."""
+        holding_code = "000660"  # Not in candidates
+        stocks = [
+            {
+                "stock_code": "005930",  # candidate
+                "scenarios": [
+                    {
+                        "condition": {"rsi_below": 30},
+                        "action": "BUY",
+                        "confidence": 85,
+                        "rationale": "oversold",
+                    }
+                ],
+            },
+            {
+                "stock_code": holding_code,  # holding only
+                "scenarios": [
+                    {
+                        "condition": {"price_change_pct_below": -2.0},
+                        "action": "SELL",
+                        "confidence": 90,
+                        "rationale": "stop-loss",
+                    }
+                ],
+            },
+        ]
+        planner = _make_planner(gemini_response=_gemini_response_json(stocks=stocks))
+        candidates = [_candidate()]  # only 005930
+        holdings = [
+            {
+                "stock_code": holding_code,
+                "name": "SK Hynix",
+                "qty": 5,
+                "entry_price": 180000.0,
+                "unrealized_pnl_pct": -1.5,
+                "holding_days": 7,
+            }
+        ]
+
+        pb = await planner.generate_playbook(
+            "KR",
+            candidates,
+            today=date(2026, 2, 8),
+            current_holdings=holdings,
+        )
+
+        codes = [sp.stock_code for sp in pb.stock_playbooks]
+        assert "005930" in codes
+        assert holding_code in codes

tests/test_scenario_engine.py

@@ -440,3 +440,135 @@ class TestEvaluate:
         assert result.action == ScenarioAction.BUY
         assert result.match_details["rsi"] == 25.0
         assert isinstance(result.match_details["rsi"], float)
+
+
+# ---------------------------------------------------------------------------
+# Position-aware condition tests (#171)
+# ---------------------------------------------------------------------------
+
+
+class TestPositionAwareConditions:
+    """Tests for unrealized_pnl_pct and holding_days condition fields."""
+
+    def test_evaluate_condition_unrealized_pnl_above_matches(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """unrealized_pnl_pct_above should match when P&L exceeds threshold."""
+        condition = StockCondition(unrealized_pnl_pct_above=3.0)
+        assert engine.evaluate_condition(condition, {"unrealized_pnl_pct": 5.0}) is True
+
+    def test_evaluate_condition_unrealized_pnl_above_no_match(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """unrealized_pnl_pct_above should NOT match when P&L is below threshold."""
+        condition = StockCondition(unrealized_pnl_pct_above=3.0)
+        assert engine.evaluate_condition(condition, {"unrealized_pnl_pct": 2.0}) is False
+
+    def test_evaluate_condition_unrealized_pnl_below_matches(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """unrealized_pnl_pct_below should match when P&L is under threshold."""
+        condition = StockCondition(unrealized_pnl_pct_below=-2.0)
+        assert engine.evaluate_condition(condition, {"unrealized_pnl_pct": -3.5}) is True
+
+    def test_evaluate_condition_unrealized_pnl_below_no_match(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """unrealized_pnl_pct_below should NOT match when P&L is above threshold."""
+        condition = StockCondition(unrealized_pnl_pct_below=-2.0)
+        assert engine.evaluate_condition(condition, {"unrealized_pnl_pct": -1.0}) is False
+
+    def test_evaluate_condition_holding_days_above_matches(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """holding_days_above should match when position held longer than threshold."""
+        condition = StockCondition(holding_days_above=5)
+        assert engine.evaluate_condition(condition, {"holding_days": 7}) is True
+
+    def test_evaluate_condition_holding_days_above_no_match(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """holding_days_above should NOT match when position held shorter."""
+        condition = StockCondition(holding_days_above=5)
+        assert engine.evaluate_condition(condition, {"holding_days": 3}) is False
+
+    def test_evaluate_condition_holding_days_below_matches(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """holding_days_below should match when position held fewer days."""
+        condition = StockCondition(holding_days_below=3)
+        assert engine.evaluate_condition(condition, {"holding_days": 1}) is True
+
+    def test_evaluate_condition_holding_days_below_no_match(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """holding_days_below should NOT match when held more days."""
+        condition = StockCondition(holding_days_below=3)
+        assert engine.evaluate_condition(condition, {"holding_days": 5}) is False
+
+    def test_combined_pnl_and_holding_days(self, engine: ScenarioEngine) -> None:
+        """Combined position-aware conditions should AND-evaluate correctly."""
+        condition = StockCondition(
+            unrealized_pnl_pct_above=3.0,
+            holding_days_above=5,
+        )
+        # Both met → match
+        assert engine.evaluate_condition(
+            condition,
+            {"unrealized_pnl_pct": 4.5, "holding_days": 7},
+        ) is True
+        # Only pnl met → no match
+        assert engine.evaluate_condition(
+            condition,
+            {"unrealized_pnl_pct": 4.5, "holding_days": 3},
+        ) is False
+
+    def test_missing_unrealized_pnl_does_not_match(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """Missing unrealized_pnl_pct key should not match the condition."""
+        condition = StockCondition(unrealized_pnl_pct_above=3.0)
+        assert engine.evaluate_condition(condition, {}) is False
+
+    def test_missing_holding_days_does_not_match(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """Missing holding_days key should not match the condition."""
+        condition = StockCondition(holding_days_above=5)
+        assert engine.evaluate_condition(condition, {}) is False
+
+    def test_match_details_includes_position_fields(
+        self, engine: ScenarioEngine
+    ) -> None:
+        """match_details should include position fields when condition specifies them."""
+        pb = _playbook(
+            scenarios=[
+                StockScenario(
+                    condition=StockCondition(unrealized_pnl_pct_above=3.0),
+                    action=ScenarioAction.SELL,
+                    confidence=90,
+                    rationale="Take profit",
+                )
+            ]
+        )
+        result = engine.evaluate(
+            pb,
+            "005930",
+            {"unrealized_pnl_pct": 5.0},
+            {},
+        )
+        assert result.action == ScenarioAction.SELL
+        assert "unrealized_pnl_pct" in result.match_details
+        assert result.match_details["unrealized_pnl_pct"] == 5.0
+
+    def test_position_conditions_parse_from_planner(self) -> None:
+        """StockCondition should accept and store new fields from JSON parsing."""
+        condition = StockCondition(
+            unrealized_pnl_pct_above=3.0,
+            unrealized_pnl_pct_below=None,
+            holding_days_above=5,
+            holding_days_below=None,
+        )
+        assert condition.unrealized_pnl_pct_above == 3.0
+        assert condition.holding_days_above == 5
+        assert condition.has_any_condition() is True

tests/test_smart_scanner.py

@@ -8,6 +8,7 @@ from unittest.mock import AsyncMock, MagicMock
 from src.analysis.smart_scanner import ScanCandidate, SmartVolatilityScanner
 from src.analysis.volatility import VolatilityAnalyzer
 from src.broker.kis_api import KISBroker
+from src.broker.overseas import OverseasBroker
 from src.config import Settings
 
 
@@ -43,61 +44,70 @@ def scanner(mock_broker: MagicMock, mock_settings: Settings) -> SmartVolatilityS
     analyzer = VolatilityAnalyzer()
     return SmartVolatilityScanner(
         broker=mock_broker,
+        overseas_broker=None,
         volatility_analyzer=analyzer,
         settings=mock_settings,
     )
 
 
+@pytest.fixture
+def mock_overseas_broker() -> MagicMock:
+    """Create mock overseas broker."""
+    broker = MagicMock(spec=OverseasBroker)
+    broker.get_overseas_price = AsyncMock()
+    broker.fetch_overseas_rankings = AsyncMock(return_value=[])
+    return broker
+
+
 class TestSmartVolatilityScanner:
     """Test suite for SmartVolatilityScanner."""
 
     @pytest.mark.asyncio
-    async def test_scan_finds_oversold_candidates(
+    async def test_scan_domestic_prefers_volatility_with_liquidity_bonus(
         self, scanner: SmartVolatilityScanner, mock_broker: MagicMock
     ) -> None:
-        """Test that scanner identifies oversold stocks with high volume."""
-        # Mock rankings
-        mock_broker.fetch_market_rankings.return_value = [
+        """Domestic scan should score by volatility first and volume rank second."""
+        fluctuation_rows = [
             {
                 "stock_code": "005930",
                 "name": "Samsung",
                 "price": 70000,
                 "volume": 5000000,
-                "change_rate": -3.5,
+                "change_rate": -5.0,
                 "volume_increase_rate": 250,
             },
+            {
+                "stock_code": "035420",
+                "name": "NAVER",
+                "price": 250000,
+                "volume": 3000000,
+                "change_rate": 3.0,
+                "volume_increase_rate": 200,
+            },
+        ]
+        volume_rows = [
+            {"stock_code": "035420", "name": "NAVER", "price": 250000, "volume": 3000000},
+            {"stock_code": "005930", "name": "Samsung", "price": 70000, "volume": 5000000},
+        ]
+        mock_broker.fetch_market_rankings.side_effect = [fluctuation_rows, volume_rows]
+        mock_broker.get_daily_prices.return_value = [
+            {"open": 1, "high": 1, "low": 1, "close": 1, "volume": 1000000},
+            {"open": 1, "high": 1, "low": 1, "close": 1, "volume": 1000000},
         ]
-
-        # Mock daily prices - trending down (oversold)
-        prices = []
-        for i in range(20):
-            prices.append({
-                "date": f"2026020{i:02d}",
-                "open": 75000 - i * 200,
-                "high": 75500 - i * 200,
-                "low": 74500 - i * 200,
-                "close": 75000 - i * 250,  # Steady decline
-                "volume": 2000000,
-            })
-        mock_broker.get_daily_prices.return_value = prices
 
         candidates = await scanner.scan()
 
-        # Should find at least one candidate (depending on exact RSI calculation)
-        mock_broker.fetch_market_rankings.assert_called_once()
-        mock_broker.get_daily_prices.assert_called_once_with("005930", days=20)
-
-        # If qualified, should have oversold signal
-        if candidates:
-            assert candidates[0].signal in ["oversold", "momentum"]
-            assert candidates[0].volume_ratio >= scanner.vol_multiplier
+        assert len(candidates) >= 1
+        # Samsung has higher absolute move, so it should lead despite lower volume rank bonus.
+        assert candidates[0].stock_code == "005930"
+        assert candidates[0].signal == "oversold"
 
     @pytest.mark.asyncio
-    async def test_scan_finds_momentum_candidates(
+    async def test_scan_domestic_finds_momentum_candidate(
         self, scanner: SmartVolatilityScanner, mock_broker: MagicMock
     ) -> None:
-        """Test that scanner identifies momentum stocks with high volume."""
-        mock_broker.fetch_market_rankings.return_value = [
+        """Positive change should be represented as momentum signal."""
+        fluctuation_rows = [
             {
                 "stock_code": "035420",
                 "name": "NAVER",
@@ -107,124 +117,67 @@ class TestSmartVolatilityScanner:
                 "volume_increase_rate": 300,
             },
         ]
-
-        # Mock daily prices - trending up (momentum)
-        prices = []
-        for i in range(20):
-            prices.append({
-                "date": f"2026020{i:02d}",
-                "open": 230000 + i * 500,
-                "high": 231000 + i * 500,
-                "low": 229000 + i * 500,
-                "close": 230500 + i * 500,  # Steady rise
-                "volume": 1000000,
-            })
-        mock_broker.get_daily_prices.return_value = prices
+        mock_broker.fetch_market_rankings.side_effect = [fluctuation_rows, fluctuation_rows]
+        mock_broker.get_daily_prices.return_value = [
+            {"open": 1, "high": 1, "low": 1, "close": 1, "volume": 1000000},
+            {"open": 1, "high": 1, "low": 1, "close": 1, "volume": 1000000},
+        ]
 
         candidates = await scanner.scan()
 
-        mock_broker.fetch_market_rankings.assert_called_once()
+        assert [c.stock_code for c in candidates] == ["035420"]
+        assert candidates[0].signal == "momentum"
 
     @pytest.mark.asyncio
-    async def test_scan_filters_low_volume(
+    async def test_scan_domestic_filters_low_volatility(
         self, scanner: SmartVolatilityScanner, mock_broker: MagicMock
     ) -> None:
-        """Test that stocks with low volume ratio are filtered out."""
-        mock_broker.fetch_market_rankings.return_value = [
+        """Domestic scan should drop symbols below volatility threshold."""
+        fluctuation_rows = [
             {
                 "stock_code": "000660",
                 "name": "SK Hynix",
                 "price": 150000,
                 "volume": 500000,
-                "change_rate": -5.0,
-                "volume_increase_rate": 50,  # Only 50% increase (< 200%)
+                "change_rate": 0.2,
+                "volume_increase_rate": 50,
             },
         ]
-
-        # Low volume
-        prices = []
-        for i in range(20):
-            prices.append({
-                "date": f"2026020{i:02d}",
-                "open": 150000 - i * 100,
-                "high": 151000 - i * 100,
-                "low": 149000 - i * 100,
-                "close": 150000 - i * 150,  # Declining (would be oversold)
-                "volume": 1000000,  # Current 500k < 2x prev day 1M
-            })
-        mock_broker.get_daily_prices.return_value = prices
+        mock_broker.fetch_market_rankings.side_effect = [fluctuation_rows, fluctuation_rows]
+        mock_broker.get_daily_prices.return_value = [
+            {"open": 1, "high": 150100, "low": 149900, "close": 150000, "volume": 1000000},
+            {"open": 1, "high": 150100, "low": 149900, "close": 150000, "volume": 1000000},
+        ]
 
         candidates = await scanner.scan()
 
-        # Should be filtered out due to low volume ratio
-        assert len(candidates) == 0
-
-    @pytest.mark.asyncio
-    async def test_scan_filters_neutral_rsi(
-        self, scanner: SmartVolatilityScanner, mock_broker: MagicMock
-    ) -> None:
-        """Test that stocks with neutral RSI are filtered out."""
-        mock_broker.fetch_market_rankings.return_value = [
-            {
-                "stock_code": "051910",
-                "name": "LG Chem",
-                "price": 500000,
-                "volume": 3000000,
-                "change_rate": 0.5,
-                "volume_increase_rate": 300,  # High volume
-            },
-        ]
-
-        # Flat prices (neutral RSI ~50)
-        prices = []
-        for i in range(20):
-            prices.append({
-                "date": f"2026020{i:02d}",
-                "open": 500000 + (i % 2) * 100,  # Small oscillation
-                "high": 500500,
-                "low": 499500,
-                "close": 500000 + (i % 2) * 50,
-                "volume": 1000000,
-            })
-        mock_broker.get_daily_prices.return_value = prices
-
-        candidates = await scanner.scan()
-
-        # Should be filtered out (RSI ~50, not < 30 or > 70)
         assert len(candidates) == 0
 
     @pytest.mark.asyncio
     async def test_scan_uses_fallback_on_api_error(
         self, scanner: SmartVolatilityScanner, mock_broker: MagicMock
     ) -> None:
-        """Test fallback to static list when ranking API fails."""
-        mock_broker.fetch_market_rankings.side_effect = ConnectionError("API unavailable")
-
-        # Fallback stocks should still be analyzed
-        prices = []
-        for i in range(20):
-            prices.append({
-                "date": f"2026020{i:02d}",
-                "open": 50000 - i * 50,
-                "high": 51000 - i * 50,
-                "low": 49000 - i * 50,
-                "close": 50000 - i * 75,  # Declining
-                "volume": 1000000,
-            })
-        mock_broker.get_daily_prices.return_value = prices
+        """Domestic scan should remain operational using fallback symbols."""
+        mock_broker.fetch_market_rankings.side_effect = [
+            ConnectionError("API unavailable"),
+            ConnectionError("API unavailable"),
+        ]
+        mock_broker.get_daily_prices.return_value = [
+            {"open": 1, "high": 103, "low": 97, "close": 100, "volume": 1000000},
+            {"open": 1, "high": 103, "low": 97, "close": 100, "volume": 800000},
+        ]
 
         candidates = await scanner.scan(fallback_stocks=["005930", "000660"])
 
-        # Should not crash
         assert isinstance(candidates, list)
+        assert len(candidates) >= 1
 
     @pytest.mark.asyncio
     async def test_scan_returns_top_n_only(
         self, scanner: SmartVolatilityScanner, mock_broker: MagicMock
     ) -> None:
         """Test that scan returns at most top_n candidates."""
-        # Return many stocks
-        mock_broker.fetch_market_rankings.return_value = [
+        fluctuation_rows = [
             {
                 "stock_code": f"00{i}000",
                 "name": f"Stock{i}",
@@ -235,62 +188,17 @@ class TestSmartVolatilityScanner:
             }
             for i in range(1, 10)
         ]
-
-        # All oversold with high volume
-        def make_prices(code: str) -> list[dict]:
-            prices = []
-            for i in range(20):
-                prices.append({
-                    "date": f"2026020{i:02d}",
-                    "open": 10000 - i * 100,
-                    "high": 10500 - i * 100,
-                    "low": 9500 - i * 100,
-                    "close": 10000 - i * 150,
-                    "volume": 1000000,
-                })
-            return prices
-
-        mock_broker.get_daily_prices.side_effect = make_prices
+        mock_broker.fetch_market_rankings.side_effect = [fluctuation_rows, fluctuation_rows]
+        mock_broker.get_daily_prices.return_value = [
+            {"open": 1, "high": 105, "low": 95, "close": 100, "volume": 1000000},
+            {"open": 1, "high": 105, "low": 95, "close": 100, "volume": 900000},
+        ]
 
         candidates = await scanner.scan()
 
         # Should respect top_n limit (3)
         assert len(candidates) <= scanner.top_n
 
-    @pytest.mark.asyncio
-    async def test_scan_skips_insufficient_price_history(
-        self, scanner: SmartVolatilityScanner, mock_broker: MagicMock
-    ) -> None:
-        """Test that stocks with insufficient history are skipped."""
-        mock_broker.fetch_market_rankings.return_value = [
-            {
-                "stock_code": "005930",
-                "name": "Samsung",
-                "price": 70000,
-                "volume": 5000000,
-                "change_rate": -5.0,
-                "volume_increase_rate": 300,
-            },
-        ]
-
-        # Only 5 days of data (need 15+ for RSI)
-        mock_broker.get_daily_prices.return_value = [
-            {
-                "date": f"2026020{i:02d}",
-                "open": 70000,
-                "high": 71000,
-                "low": 69000,
-                "close": 70000,
-                "volume": 2000000,
-            }
-            for i in range(5)
-        ]
-
-        candidates = await scanner.scan()
-
-        # Should skip due to insufficient data
-        assert len(candidates) == 0
-
     @pytest.mark.asyncio
     async def test_get_stock_codes(
         self, scanner: SmartVolatilityScanner
@@ -323,6 +231,160 @@ class TestSmartVolatilityScanner:
 
         assert codes == ["005930", "035420"]
 
+    @pytest.mark.asyncio
+    async def test_scan_overseas_uses_dynamic_symbols(
+        self, mock_broker: MagicMock, mock_overseas_broker: MagicMock, mock_settings: Settings
+    ) -> None:
+        """Overseas scan should use provided dynamic universe symbols."""
+        analyzer = VolatilityAnalyzer()
+        scanner = SmartVolatilityScanner(
+            broker=mock_broker,
+            overseas_broker=mock_overseas_broker,
+            volatility_analyzer=analyzer,
+            settings=mock_settings,
+        )
+
+        market = MagicMock()
+        market.name = "NASDAQ"
+        market.code = "US_NASDAQ"
+        market.exchange_code = "NASD"
+        market.is_domestic = False
+
+        mock_overseas_broker.get_overseas_price.side_effect = [
+            {"output": {"last": "210.5", "rate": "1.6", "tvol": "1500000"}},
+            {"output": {"last": "330.1", "rate": "0.2", "tvol": "900000"}},
+        ]
+
+        candidates = await scanner.scan(
+            market=market,
+            fallback_stocks=["AAPL", "MSFT"],
+        )
+
+        assert [c.stock_code for c in candidates] == ["AAPL"]
+        assert candidates[0].signal == "momentum"
+        assert candidates[0].price == 210.5
+
+    @pytest.mark.asyncio
+    async def test_scan_overseas_uses_ranking_api_first(
+        self, mock_broker: MagicMock, mock_overseas_broker: MagicMock, mock_settings: Settings
+    ) -> None:
+        """Overseas scan should prioritize ranking API when available."""
+        analyzer = VolatilityAnalyzer()
+        scanner = SmartVolatilityScanner(
+            broker=mock_broker,
+            overseas_broker=mock_overseas_broker,
+            volatility_analyzer=analyzer,
+            settings=mock_settings,
+        )
+        market = MagicMock()
+        market.name = "NASDAQ"
+        market.code = "US_NASDAQ"
+        market.exchange_code = "NASD"
+        market.is_domestic = False
+
+        mock_overseas_broker.fetch_overseas_rankings.return_value = [
+            {"symb": "NVDA", "last": "780.2", "rate": "2.4", "tvol": "1200000"},
+            {"symb": "MSFT", "last": "420.0", "rate": "0.3", "tvol": "900000"},
+        ]
+
+        candidates = await scanner.scan(market=market, fallback_stocks=["AAPL", "TSLA"])
+
+        assert mock_overseas_broker.fetch_overseas_rankings.call_count >= 1
+        mock_overseas_broker.get_overseas_price.assert_not_called()
+        assert [c.stock_code for c in candidates] == ["NVDA"]
+
+    @pytest.mark.asyncio
+    async def test_scan_overseas_without_symbols_returns_empty(
+        self, mock_broker: MagicMock, mock_overseas_broker: MagicMock, mock_settings: Settings
+    ) -> None:
+        """Overseas scan should return empty list when no symbol universe exists."""
+        analyzer = VolatilityAnalyzer()
+        scanner = SmartVolatilityScanner(
+            broker=mock_broker,
+            overseas_broker=mock_overseas_broker,
+            volatility_analyzer=analyzer,
+            settings=mock_settings,
+        )
+        market = MagicMock()
+        market.name = "NASDAQ"
+        market.code = "US_NASDAQ"
+        market.exchange_code = "NASD"
+        market.is_domestic = False
+
+        candidates = await scanner.scan(market=market, fallback_stocks=[])
+
+        assert candidates == []
+
+    @pytest.mark.asyncio
+    async def test_scan_overseas_picks_high_intraday_range_even_with_low_change(
+        self, mock_broker: MagicMock, mock_overseas_broker: MagicMock, mock_settings: Settings
+    ) -> None:
+        """Volatility selection should consider intraday range, not only change rate."""
+        analyzer = VolatilityAnalyzer()
+        scanner = SmartVolatilityScanner(
+            broker=mock_broker,
+            overseas_broker=mock_overseas_broker,
+            volatility_analyzer=analyzer,
+            settings=mock_settings,
+        )
+        market = MagicMock()
+        market.name = "NASDAQ"
+        market.code = "US_NASDAQ"
+        market.exchange_code = "NASD"
+        market.is_domestic = False
+
+        # change rate is tiny, but high-low range is large (15%).
+        mock_overseas_broker.fetch_overseas_rankings.return_value = [
+            {
+                "symb": "ABCD",
+                "last": "100",
+                "rate": "0.2",
+                "high": "110",
+                "low": "95",
+                "tvol": "800000",
+            }
+        ]
+
+        candidates = await scanner.scan(market=market, fallback_stocks=[])
+
+        assert [c.stock_code for c in candidates] == ["ABCD"]
+
+
+class TestImpliedRSIFormula:
+    """Test the implied_rsi formula in SmartVolatilityScanner (issue #181)."""
+
+    def test_neutral_change_gives_neutral_rsi(self) -> None:
+        """0% change → implied_rsi = 50 (neutral)."""
+        # formula: 50 + (change_rate * 2.0)
+        rsi = max(0.0, min(100.0, 50.0 + (0.0 * 2.0)))
+        assert rsi == 50.0
+
+    def test_10pct_change_gives_rsi_70(self) -> None:
+        """10% upward change → implied_rsi = 70 (momentum signal)."""
+        rsi = max(0.0, min(100.0, 50.0 + (10.0 * 2.0)))
+        assert rsi == 70.0
+
+    def test_minus_10pct_gives_rsi_30(self) -> None:
+        """-10% change → implied_rsi = 30 (oversold signal)."""
+        rsi = max(0.0, min(100.0, 50.0 + (-10.0 * 2.0)))
+        assert rsi == 30.0
+
+    def test_saturation_at_25pct(self) -> None:
+        """Saturation occurs at >=25% change (not 12.5% as with old coefficient 4.0)."""
+        rsi_12pct = max(0.0, min(100.0, 50.0 + (12.5 * 2.0)))
+        rsi_25pct = max(0.0, min(100.0, 50.0 + (25.0 * 2.0)))
+        rsi_30pct = max(0.0, min(100.0, 50.0 + (30.0 * 2.0)))
+        # At 12.5% change: RSI = 75 (not 100, unlike old formula)
+        assert rsi_12pct == 75.0
+        # At 25%+ saturation
+        assert rsi_25pct == 100.0
+        assert rsi_30pct == 100.0  # Capped
+
+    def test_negative_saturation(self) -> None:
+        """Saturation at -25% gives RSI = 0."""
+        rsi = max(0.0, min(100.0, 50.0 + (-25.0 * 2.0)))
+        assert rsi == 0.0
+
 
 class TestRSICalculation:
     """Test RSI calculation in VolatilityAnalyzer."""

tests/test_strategies_base.py

@@ -0,0 +1,32 @@
+"""Tests for BaseStrategy abstract class."""
+
+from __future__ import annotations
+
+from typing import Any
+
+import pytest
+
+from src.strategies.base import BaseStrategy
+
+
+class ConcreteStrategy(BaseStrategy):
+    """Minimal concrete strategy for testing."""
+
+    def evaluate(self, market_data: dict[str, Any]) -> dict[str, Any]:
+        return {"action": "HOLD", "confidence": 50, "rationale": "test"}
+
+
+def test_base_strategy_cannot_be_instantiated() -> None:
+    """BaseStrategy cannot be instantiated directly (it's abstract)."""
+    with pytest.raises(TypeError):
+        BaseStrategy()  # type: ignore[abstract]
+
+
+def test_concrete_strategy_evaluate_returns_decision() -> None:
+    """Concrete subclass must implement evaluate and return a dict."""
+    strategy = ConcreteStrategy()
+    result = strategy.evaluate({"close": [100.0, 101.0]})
+    assert isinstance(result, dict)
+    assert result["action"] == "HOLD"
+    assert result["confidence"] == 50
+    assert "rationale" in result

tests/test_strategy_exit_rules.py

@@ -0,0 +1,38 @@
+from src.strategy.exit_rules import ExitRuleConfig, ExitRuleInput, evaluate_exit
+from src.strategy.position_state_machine import PositionState
+
+
+def test_hard_stop_exit() -> None:
+    out = evaluate_exit(
+        current_state=PositionState.HOLDING,
+        config=ExitRuleConfig(hard_stop_pct=-2.0, arm_pct=3.0),
+        inp=ExitRuleInput(current_price=97.0, entry_price=100.0, peak_price=100.0),
+    )
+    assert out.should_exit is True
+    assert out.reason == "hard_stop"
+
+
+def test_take_profit_exit_for_backward_compatibility() -> None:
+    out = evaluate_exit(
+        current_state=PositionState.HOLDING,
+        config=ExitRuleConfig(hard_stop_pct=-2.0, arm_pct=3.0),
+        inp=ExitRuleInput(current_price=104.0, entry_price=100.0, peak_price=104.0),
+    )
+    assert out.should_exit is True
+    assert out.reason == "arm_take_profit"
+
+
+def test_model_assist_exit_signal() -> None:
+    out = evaluate_exit(
+        current_state=PositionState.ARMED,
+        config=ExitRuleConfig(model_prob_threshold=0.62, arm_pct=10.0),
+        inp=ExitRuleInput(
+            current_price=101.0,
+            entry_price=100.0,
+            peak_price=105.0,
+            pred_down_prob=0.8,
+            liquidity_weak=True,
+        ),
+    )
+    assert out.should_exit is True
+    assert out.reason == "model_liquidity_exit"

tests/test_strategy_state_machine.py

@@ -0,0 +1,30 @@
+from src.strategy.position_state_machine import (
+    PositionState,
+    StateTransitionInput,
+    promote_state,
+)
+
+
+def test_gap_jump_promotes_to_armed_directly() -> None:
+    state = promote_state(
+        PositionState.HOLDING,
+        StateTransitionInput(
+            unrealized_pnl_pct=4.0,
+            be_arm_pct=1.2,
+            arm_pct=2.8,
+        ),
+    )
+    assert state == PositionState.ARMED
+
+
+def test_exited_has_priority_over_promotion() -> None:
+    state = promote_state(
+        PositionState.HOLDING,
+        StateTransitionInput(
+            unrealized_pnl_pct=5.0,
+            be_arm_pct=1.2,
+            arm_pct=2.8,
+            hard_stop_hit=True,
+        ),
+    )
+    assert state == PositionState.EXITED

tests/test_telegram.py

@@ -5,7 +5,7 @@ from unittest.mock import AsyncMock, patch
 import aiohttp
 import pytest
 
-from src.notifications.telegram_client import NotificationPriority, TelegramClient
+from src.notifications.telegram_client import NotificationFilter, NotificationPriority, TelegramClient
 
 
 class TestTelegramClientInit:
@@ -481,3 +481,187 @@ class TestClientCleanup:
 
         # Should not raise exception
         await client.close()
+
+
+class TestNotificationFilter:
+    """Test granular notification filter behavior."""
+
+    def test_default_filter_allows_all(self) -> None:
+        """Default NotificationFilter has all flags enabled."""
+        f = NotificationFilter()
+        assert f.trades is True
+        assert f.market_open_close is True
+        assert f.fat_finger is True
+        assert f.system_events is True
+        assert f.playbook is True
+        assert f.scenario_match is True
+        assert f.errors is True
+
+    def test_client_uses_default_filter_when_none_given(self) -> None:
+        """TelegramClient creates a default NotificationFilter when none provided."""
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        assert isinstance(client._filter, NotificationFilter)
+        assert client._filter.scenario_match is True
+
+    def test_client_stores_provided_filter(self) -> None:
+        """TelegramClient stores a custom NotificationFilter."""
+        nf = NotificationFilter(scenario_match=False, trades=False)
+        client = TelegramClient(
+            bot_token="123:abc", chat_id="456", enabled=True, notification_filter=nf
+        )
+        assert client._filter.scenario_match is False
+        assert client._filter.trades is False
+        assert client._filter.market_open_close is True  # default still True
+
+    @pytest.mark.asyncio
+    async def test_scenario_match_filtered_does_not_send(self) -> None:
+        """notify_scenario_matched skips send when scenario_match=False."""
+        nf = NotificationFilter(scenario_match=False)
+        client = TelegramClient(
+            bot_token="123:abc", chat_id="456", enabled=True, notification_filter=nf
+        )
+        with patch("aiohttp.ClientSession.post") as mock_post:
+            await client.notify_scenario_matched(
+                stock_code="005930", action="BUY", condition_summary="rsi<30", confidence=85.0
+            )
+            mock_post.assert_not_called()
+
+    @pytest.mark.asyncio
+    async def test_trades_filtered_does_not_send(self) -> None:
+        """notify_trade_execution skips send when trades=False."""
+        nf = NotificationFilter(trades=False)
+        client = TelegramClient(
+            bot_token="123:abc", chat_id="456", enabled=True, notification_filter=nf
+        )
+        with patch("aiohttp.ClientSession.post") as mock_post:
+            await client.notify_trade_execution(
+                stock_code="005930", market="KR", action="BUY",
+                quantity=10, price=70000.0, confidence=85.0
+            )
+            mock_post.assert_not_called()
+
+    @pytest.mark.asyncio
+    async def test_market_open_close_filtered_does_not_send(self) -> None:
+        """notify_market_open/close skip send when market_open_close=False."""
+        nf = NotificationFilter(market_open_close=False)
+        client = TelegramClient(
+            bot_token="123:abc", chat_id="456", enabled=True, notification_filter=nf
+        )
+        with patch("aiohttp.ClientSession.post") as mock_post:
+            await client.notify_market_open("Korea")
+            await client.notify_market_close("Korea", pnl_pct=1.5)
+            mock_post.assert_not_called()
+
+    @pytest.mark.asyncio
+    async def test_circuit_breaker_always_sends_regardless_of_filter(self) -> None:
+        """notify_circuit_breaker always sends (no filter flag)."""
+        nf = NotificationFilter(
+            trades=False, market_open_close=False, fat_finger=False,
+            system_events=False, playbook=False, scenario_match=False, errors=False,
+        )
+        client = TelegramClient(
+            bot_token="123:abc", chat_id="456", enabled=True, notification_filter=nf
+        )
+        mock_resp = AsyncMock()
+        mock_resp.status = 200
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        with patch("aiohttp.ClientSession.post", return_value=mock_resp) as mock_post:
+            await client.notify_circuit_breaker(pnl_pct=-3.5, threshold=-3.0)
+            assert mock_post.call_count == 1
+
+    @pytest.mark.asyncio
+    async def test_errors_filtered_does_not_send(self) -> None:
+        """notify_error skips send when errors=False."""
+        nf = NotificationFilter(errors=False)
+        client = TelegramClient(
+            bot_token="123:abc", chat_id="456", enabled=True, notification_filter=nf
+        )
+        with patch("aiohttp.ClientSession.post") as mock_post:
+            await client.notify_error("TestError", "something went wrong", "KR")
+            mock_post.assert_not_called()
+
+    @pytest.mark.asyncio
+    async def test_playbook_filtered_does_not_send(self) -> None:
+        """notify_playbook_generated/failed skip send when playbook=False."""
+        nf = NotificationFilter(playbook=False)
+        client = TelegramClient(
+            bot_token="123:abc", chat_id="456", enabled=True, notification_filter=nf
+        )
+        with patch("aiohttp.ClientSession.post") as mock_post:
+            await client.notify_playbook_generated("KR", 3, 10, 1200)
+            await client.notify_playbook_failed("KR", "timeout")
+            mock_post.assert_not_called()
+
+    @pytest.mark.asyncio
+    async def test_system_events_filtered_does_not_send(self) -> None:
+        """notify_system_start/shutdown skip send when system_events=False."""
+        nf = NotificationFilter(system_events=False)
+        client = TelegramClient(
+            bot_token="123:abc", chat_id="456", enabled=True, notification_filter=nf
+        )
+        with patch("aiohttp.ClientSession.post") as mock_post:
+            await client.notify_system_start("paper", ["KR"])
+            await client.notify_system_shutdown("Normal shutdown")
+            mock_post.assert_not_called()
+
+    def test_set_flag_valid_key(self) -> None:
+        """set_flag returns True and updates field for a known key."""
+        nf = NotificationFilter()
+        assert nf.set_flag("scenario", False) is True
+        assert nf.scenario_match is False
+
+    def test_set_flag_invalid_key(self) -> None:
+        """set_flag returns False for an unknown key."""
+        nf = NotificationFilter()
+        assert nf.set_flag("unknown_key", False) is False
+
+    def test_as_dict_keys_match_KEYS(self) -> None:
+        """as_dict() returns every key defined in KEYS."""
+        nf = NotificationFilter()
+        d = nf.as_dict()
+        assert set(d.keys()) == set(NotificationFilter.KEYS.keys())
+
+    def test_set_notification_valid_key(self) -> None:
+        """TelegramClient.set_notification toggles filter at runtime."""
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        assert client._filter.scenario_match is True
+        assert client.set_notification("scenario", False) is True
+        assert client._filter.scenario_match is False
+
+    def test_set_notification_all_off(self) -> None:
+        """set_notification('all', False) disables every filter flag."""
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        assert client.set_notification("all", False) is True
+        for v in client.filter_status().values():
+            assert v is False
+
+    def test_set_notification_all_on(self) -> None:
+        """set_notification('all', True) enables every filter flag."""
+        client = TelegramClient(
+            bot_token="123:abc", chat_id="456", enabled=True,
+            notification_filter=NotificationFilter(
+                trades=False, market_open_close=False, scenario_match=False,
+                fat_finger=False, system_events=False, playbook=False, errors=False,
+            ),
+        )
+        assert client.set_notification("all", True) is True
+        for v in client.filter_status().values():
+            assert v is True
+
+    def test_set_notification_unknown_key(self) -> None:
+        """set_notification returns False for an unknown key."""
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        assert client.set_notification("unknown", False) is False
+
+    def test_filter_status_reflects_current_state(self) -> None:
+        """filter_status() matches the current NotificationFilter state."""
+        nf = NotificationFilter(trades=False, scenario_match=False)
+        client = TelegramClient(
+            bot_token="123:abc", chat_id="456", enabled=True, notification_filter=nf
+        )
+        status = client.filter_status()
+        assert status["trades"] is False
+        assert status["scenario"] is False
+        assert status["market"] is True

tests/test_telegram_commands.py

@@ -682,6 +682,10 @@ class TestBasicCommands:
                 "/help - Show available commands\n"
                 "/status - Trading status (mode, markets, P&L)\n"
                 "/positions - Current holdings\n"
+                "/report - Daily summary report\n"
+                "/scenarios - Today's playbook scenarios\n"
+                "/review - Recent scorecards\n"
+                "/dashboard - Dashboard URL/status\n"
                 "/stop - Pause trading\n"
                 "/resume - Resume trading"
             )
@@ -707,10 +711,106 @@ class TestBasicCommands:
             assert "/help" in payload["text"]
             assert "/status" in payload["text"]
             assert "/positions" in payload["text"]
+            assert "/report" in payload["text"]
+            assert "/scenarios" in payload["text"]
+            assert "/review" in payload["text"]
+            assert "/dashboard" in payload["text"]
             assert "/stop" in payload["text"]
             assert "/resume" in payload["text"]
 
 
+class TestExtendedCommands:
+    """Test additional bot commands."""
+
+    @pytest.mark.asyncio
+    async def test_report_command(self) -> None:
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        handler = TelegramCommandHandler(client)
+
+        mock_resp = AsyncMock()
+        mock_resp.status = 200
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        async def mock_report() -> None:
+            await client.send_message("<b>📈 Daily Report</b>\n\nTrades: 1")
+
+        handler.register_command("report", mock_report)
+
+        with patch("aiohttp.ClientSession.post", return_value=mock_resp) as mock_post:
+            await handler._handle_update(
+                {"update_id": 1, "message": {"chat": {"id": 456}, "text": "/report"}}
+            )
+            payload = mock_post.call_args.kwargs["json"]
+            assert "Daily Report" in payload["text"]
+
+    @pytest.mark.asyncio
+    async def test_scenarios_command(self) -> None:
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        handler = TelegramCommandHandler(client)
+
+        mock_resp = AsyncMock()
+        mock_resp.status = 200
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        async def mock_scenarios() -> None:
+            await client.send_message("<b>🧠 Today's Scenarios</b>\n\n- AAPL: BUY (85)")
+
+        handler.register_command("scenarios", mock_scenarios)
+
+        with patch("aiohttp.ClientSession.post", return_value=mock_resp) as mock_post:
+            await handler._handle_update(
+                {"update_id": 1, "message": {"chat": {"id": 456}, "text": "/scenarios"}}
+            )
+            payload = mock_post.call_args.kwargs["json"]
+            assert "Today's Scenarios" in payload["text"]
+
+    @pytest.mark.asyncio
+    async def test_review_command(self) -> None:
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        handler = TelegramCommandHandler(client)
+
+        mock_resp = AsyncMock()
+        mock_resp.status = 200
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        async def mock_review() -> None:
+            await client.send_message("<b>📝 Recent Reviews</b>\n\n- 2026-02-14 KR")
+
+        handler.register_command("review", mock_review)
+
+        with patch("aiohttp.ClientSession.post", return_value=mock_resp) as mock_post:
+            await handler._handle_update(
+                {"update_id": 1, "message": {"chat": {"id": 456}, "text": "/review"}}
+            )
+            payload = mock_post.call_args.kwargs["json"]
+            assert "Recent Reviews" in payload["text"]
+
+    @pytest.mark.asyncio
+    async def test_dashboard_command(self) -> None:
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        handler = TelegramCommandHandler(client)
+
+        mock_resp = AsyncMock()
+        mock_resp.status = 200
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        async def mock_dashboard() -> None:
+            await client.send_message("<b>🖥️ Dashboard</b>\n\nURL: http://127.0.0.1:8080")
+
+        handler.register_command("dashboard", mock_dashboard)
+
+        with patch("aiohttp.ClientSession.post", return_value=mock_resp) as mock_post:
+            await handler._handle_update(
+                {"update_id": 1, "message": {"chat": {"id": 456}, "text": "/dashboard"}}
+            )
+            payload = mock_post.call_args.kwargs["json"]
+            assert "Dashboard" in payload["text"]
+
+
 class TestGetUpdates:
     """Test getUpdates API interaction."""
 
@@ -775,3 +875,139 @@ class TestGetUpdates:
             updates = await handler._get_updates()
 
             assert updates == []
+
+    @pytest.mark.asyncio
+    async def test_get_updates_409_stops_polling(self) -> None:
+        """409 Conflict response stops the poller (_running = False) and returns empty list."""
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        handler = TelegramCommandHandler(client)
+        handler._running = True  # simulate active poller
+
+        mock_resp = AsyncMock()
+        mock_resp.status = 409
+        mock_resp.text = AsyncMock(
+            return_value='{"ok":false,"error_code":409,"description":"Conflict"}'
+        )
+        mock_resp.__aenter__ = AsyncMock(return_value=mock_resp)
+        mock_resp.__aexit__ = AsyncMock(return_value=False)
+
+        with patch("aiohttp.ClientSession.post", return_value=mock_resp):
+            updates = await handler._get_updates()
+
+        assert updates == []
+        assert handler._running is False  # poller stopped
+
+    @pytest.mark.asyncio
+    async def test_poll_loop_exits_after_409(self) -> None:
+        """_poll_loop exits naturally after _running is set to False by a 409 response."""
+        import asyncio as _asyncio
+
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        handler = TelegramCommandHandler(client)
+
+        call_count = 0
+
+        async def mock_get_updates_409() -> list[dict]:
+            nonlocal call_count
+            call_count += 1
+            # Simulate 409 stopping the poller
+            handler._running = False
+            return []
+
+        handler._get_updates = mock_get_updates_409  # type: ignore[method-assign]
+
+        handler._running = True
+        task = _asyncio.create_task(handler._poll_loop())
+        await _asyncio.wait_for(task, timeout=2.0)
+
+        # _get_updates called exactly once, then loop exited
+        assert call_count == 1
+        assert handler._running is False
+
+
+class TestCommandWithArgs:
+    """Test register_command_with_args and argument dispatch."""
+
+    def test_register_command_with_args_stored(self) -> None:
+        """register_command_with_args stores handler in _commands_with_args."""
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        handler = TelegramCommandHandler(client)
+
+        async def my_handler(args: list[str]) -> None:
+            pass
+
+        handler.register_command_with_args("notify", my_handler)
+        assert "notify" in handler._commands_with_args
+        assert handler._commands_with_args["notify"] is my_handler
+
+    @pytest.mark.asyncio
+    async def test_args_handler_receives_arguments(self) -> None:
+        """Args handler is called with the trailing tokens."""
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        handler = TelegramCommandHandler(client)
+
+        received: list[list[str]] = []
+
+        async def capture(args: list[str]) -> None:
+            received.append(args)
+
+        handler.register_command_with_args("notify", capture)
+
+        update = {
+            "message": {
+                "chat": {"id": "456"},
+                "text": "/notify scenario off",
+            }
+        }
+        await handler._handle_update(update)
+        assert received == [["scenario", "off"]]
+
+    @pytest.mark.asyncio
+    async def test_args_handler_takes_priority_over_no_args_handler(self) -> None:
+        """When both handlers exist for same command, args handler wins."""
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        handler = TelegramCommandHandler(client)
+
+        no_args_called = []
+        args_called = []
+
+        async def no_args_handler() -> None:
+            no_args_called.append(True)
+
+        async def args_handler(args: list[str]) -> None:
+            args_called.append(args)
+
+        handler.register_command("notify", no_args_handler)
+        handler.register_command_with_args("notify", args_handler)
+
+        update = {
+            "message": {
+                "chat": {"id": "456"},
+                "text": "/notify all off",
+            }
+        }
+        await handler._handle_update(update)
+        assert args_called == [["all", "off"]]
+        assert no_args_called == []
+
+    @pytest.mark.asyncio
+    async def test_args_handler_with_no_trailing_args(self) -> None:
+        """/notify with no args still dispatches to args handler with empty list."""
+        client = TelegramClient(bot_token="123:abc", chat_id="456", enabled=True)
+        handler = TelegramCommandHandler(client)
+
+        received: list[list[str]] = []
+
+        async def capture(args: list[str]) -> None:
+            received.append(args)
+
+        handler.register_command_with_args("notify", capture)
+
+        update = {
+            "message": {
+                "chat": {"id": "456"},
+                "text": "/notify",
+            }
+        }
+        await handler._handle_update(update)
+        assert received == [[]]

tests/test_token_efficiency.py

@@ -124,6 +124,10 @@ class TestPromptOptimizer:
         assert len(prompt) < 300
         assert "005930" in prompt
         assert "75000" in prompt
+        # Keys must match parse_response expectations (#242)
+        assert '"action"' in prompt
+        assert '"confidence"' in prompt
+        assert '"rationale"' in prompt
 
     def test_build_compressed_prompt_no_instructions(self):
         """Test compressed prompt without instructions."""

tests/test_triple_barrier.py

@@ -0,0 +1,131 @@
+from __future__ import annotations
+
+from src.analysis.triple_barrier import TripleBarrierSpec, label_with_triple_barrier
+
+
+def test_long_take_profit_first() -> None:
+    highs = [100, 101, 103]
+    lows = [100, 99.6, 100]
+    closes = [100, 100, 102]
+    spec = TripleBarrierSpec(take_profit_pct=0.02, stop_loss_pct=0.01, max_holding_bars=3)
+    out = label_with_triple_barrier(
+        highs=highs,
+        lows=lows,
+        closes=closes,
+        entry_index=0,
+        side=1,
+        spec=spec,
+    )
+    assert out.label == 1
+    assert out.touched == "take_profit"
+    assert out.touch_bar == 2
+
+
+def test_long_stop_loss_first() -> None:
+    highs = [100, 100.5, 101]
+    lows = [100, 98.8, 99]
+    closes = [100, 99.5, 100]
+    spec = TripleBarrierSpec(take_profit_pct=0.02, stop_loss_pct=0.01, max_holding_bars=3)
+    out = label_with_triple_barrier(
+        highs=highs,
+        lows=lows,
+        closes=closes,
+        entry_index=0,
+        side=1,
+        spec=spec,
+    )
+    assert out.label == -1
+    assert out.touched == "stop_loss"
+    assert out.touch_bar == 1
+
+
+def test_time_barrier_timeout() -> None:
+    highs = [100, 100.8, 100.7]
+    lows = [100, 99.3, 99.4]
+    closes = [100, 100, 100]
+    spec = TripleBarrierSpec(take_profit_pct=0.02, stop_loss_pct=0.02, max_holding_bars=2)
+    out = label_with_triple_barrier(
+        highs=highs,
+        lows=lows,
+        closes=closes,
+        entry_index=0,
+        side=1,
+        spec=spec,
+    )
+    assert out.label == 0
+    assert out.touched == "time"
+    assert out.touch_bar == 2
+
+
+def test_tie_break_stop_first_default() -> None:
+    highs = [100, 102.1]
+    lows = [100, 98.9]
+    closes = [100, 100]
+    spec = TripleBarrierSpec(take_profit_pct=0.02, stop_loss_pct=0.01, max_holding_bars=1)
+    out = label_with_triple_barrier(
+        highs=highs,
+        lows=lows,
+        closes=closes,
+        entry_index=0,
+        side=1,
+        spec=spec,
+    )
+    assert out.label == -1
+    assert out.touched == "stop_loss"
+
+
+def test_short_side_inverts_barrier_semantics() -> None:
+    highs = [100, 100.5, 101.2]
+    lows = [100, 97.8, 98.0]
+    closes = [100, 99, 99]
+    spec = TripleBarrierSpec(take_profit_pct=0.02, stop_loss_pct=0.01, max_holding_bars=3)
+    out = label_with_triple_barrier(
+        highs=highs,
+        lows=lows,
+        closes=closes,
+        entry_index=0,
+        side=-1,
+        spec=spec,
+    )
+    assert out.label == 1
+    assert out.touched == "take_profit"
+
+
+def test_short_tie_break_modes() -> None:
+    highs = [100, 101.1]
+    lows = [100, 97.9]
+    closes = [100, 100]
+
+    stop_first = TripleBarrierSpec(
+        take_profit_pct=0.02,
+        stop_loss_pct=0.01,
+        max_holding_bars=1,
+        tie_break="stop_first",
+    )
+    out_stop = label_with_triple_barrier(
+        highs=highs,
+        lows=lows,
+        closes=closes,
+        entry_index=0,
+        side=-1,
+        spec=stop_first,
+    )
+    assert out_stop.label == -1
+    assert out_stop.touched == "stop_loss"
+
+    take_first = TripleBarrierSpec(
+        take_profit_pct=0.02,
+        stop_loss_pct=0.01,
+        max_holding_bars=1,
+        tie_break="take_first",
+    )
+    out_take = label_with_triple_barrier(
+        highs=highs,
+        lows=lows,
+        closes=closes,
+        entry_index=0,
+        side=-1,
+        spec=take_first,
+    )
+    assert out_take.label == 1
+    assert out_take.touched == "take_profit"

tests/test_walk_forward_split.py

@@ -0,0 +1,92 @@
+from __future__ import annotations
+
+import pytest
+
+from src.analysis.walk_forward_split import generate_walk_forward_splits
+
+
+def test_generates_sequential_folds() -> None:
+    folds = generate_walk_forward_splits(
+        n_samples=30,
+        train_size=10,
+        test_size=5,
+    )
+    assert len(folds) == 4
+    assert folds[0].train_indices == list(range(0, 10))
+    assert folds[0].test_indices == list(range(10, 15))
+    assert folds[1].train_indices == list(range(5, 15))
+    assert folds[1].test_indices == list(range(15, 20))
+
+
+def test_purge_removes_boundary_samples_before_test() -> None:
+    folds = generate_walk_forward_splits(
+        n_samples=25,
+        train_size=8,
+        test_size=4,
+        purge_size=2,
+    )
+    first = folds[0]
+    # test starts at 10, purge=2 => train end must be 7
+    assert first.train_indices == list(range(0, 8))
+    assert first.test_indices == list(range(10, 14))
+
+
+def test_embargo_excludes_post_test_samples_from_next_train() -> None:
+    folds = generate_walk_forward_splits(
+        n_samples=45,
+        train_size=15,
+        test_size=5,
+        step_size=10,
+        embargo_size=3,
+    )
+    assert len(folds) >= 2
+    # Fold1 test: 15..19, next fold train window: 10..24.
+    # embargo_size=3 should remove 20,21,22 from fold2 train.
+    second_train = folds[1].train_indices
+    assert 20 not in second_train
+    assert 21 not in second_train
+    assert 22 not in second_train
+    assert 23 in second_train
+
+
+def test_respects_min_train_size_and_returns_empty_when_impossible() -> None:
+    folds = generate_walk_forward_splits(
+        n_samples=15,
+        train_size=5,
+        test_size=5,
+        min_train_size=6,
+    )
+    assert folds == []
+
+
+def test_embargo_uses_last_accepted_fold_when_intermediate_fold_skips() -> None:
+    folds = generate_walk_forward_splits(
+        n_samples=30,
+        train_size=5,
+        test_size=3,
+        step_size=5,
+        embargo_size=1,
+        min_train_size=5,
+    )
+    # 1st fold accepted, 2nd skipped by min_train_size, subsequent folds still generated.
+    assert len(folds) == 3
+    assert folds[0].test_indices == [5, 6, 7]
+    assert folds[1].test_indices == [15, 16, 17]
+    assert folds[2].test_indices == [25, 26, 27]
+
+
+@pytest.mark.parametrize(
+    ("n_samples", "train_size", "test_size"),
+    [
+        (0, 10, 2),
+        (10, 0, 2),
+        (10, 5, 0),
+    ],
+)
+def test_invalid_args_raise(n_samples: int, train_size: int, test_size: int) -> None:
+    with pytest.raises(ValueError):
+        generate_walk_forward_splits(
+            n_samples=n_samples,
+            train_size=train_size,
+            test_size=test_size,
+        )

workflow/issue-271-runlog.md

@@ -0,0 +1,37 @@
+# Issue #271 Workflow Run Log
+
+## 2026-02-26
+
+### Step 1: Gitea issue creation
+- Attempt 1: Succeeded, but formatting degraded
+  - Command style: `tea issues create -t ... -d "...\n..."`
+  - Symptom: Issue body rendered literal `\n` text in web UI instead of line breaks
+- Root cause
+  - `tea` does not provide `--description-file`
+  - Shell-escaped `\n` inside double quotes is passed as backslash+n text
+- Resolution
+  - Build body with heredoc and pass as variable (`-d "$ISSUE_BODY"`)
+
+### Step 2: PR description creation
+- Attempt 1: Succeeded, but same newline rendering risk detected
+- Resolution
+  - Same heredoc variable pattern applied for PR body (`--description "$PR_BODY"`)
+
+### Preventive Action
+- `docs/workflow.md` updated with "Gitea CLI Formatting Troubleshooting" section
+- Standard command templates added for issues and PRs
+
+### Reusable Safe Template
+```bash
+ISSUE_BODY=$(cat <<'EOF'
+## Summary
+- item A
+- item B
+
+## Scope
+- docs only
+EOF
+)
+
+tea issues create -t "title" -d "$ISSUE_BODY"
+```